Netflix is raising prices after reporting its biggest-ever subscriber jump

Liam Reilly, CNN

NEW YORK (CNN) — Netflix announced Tuesday it will raise prices on most of its subscription tiers in the US and Canada after the streaming giant reported 19 million new subscribers in the last quarter of 2024.

The jump in subscribers, Netflix’s biggest-ever, puts the streaming giant at 302 million worldwide, solidifying the company’s hold on the top spot in the industry.

Netflix attributed the service’s success to the Mike Tyson-Jake Paul boxing match in November, which drew 108 million global viewers, making it the most-streamed sporting event ever, as well as its twin Christmas Day NFL games, which averaged 30 million global viewers, making them the most-streamed football games in history.

Subscriptions were also buoyed by the massive success of “Squid Game” season two, which is currently the streamer’s third-most-watched TV season with 152.5 million total views.

The price increases announced Tuesday will see the standard monthly membership without advertisements increase from $15.49 to $17.99, while a standard account with ads will rise one dollar to $7.99. Its highest-priced premium tier, which includes 4K video quality, will increase by $2 to $24.99.

Netflix also reported revenue increased 16%, exceeding $10 billion for the first time in the company’s history, while operating income totaled $2.3 billion, a 52% on-year increase.

The company’s stock surged 13% on the news Tuesday afternoon.