Global streaming service Netflix has revealed plans to increase subscription prices in several countries.

This follows the addition of nearly 19 million subscribers in the last months of 2024.

“Subscription costs will increase in the US, Canada, Argentina and Portugal,” said Netflix.

“From time to time, we may ask our members to pay a bit more in order to reinvest and enhance our service,” they added.

The company reported stronger-than-expected subscriber growth, fueled by the release of the second season of the South Korean drama Squid Game, as well as high-profile events like the boxing match between influencer-turned-fighter Jake Paul and former world heavyweight champion Mike Tyson.

In the US, subscription costs will rise across nearly all plans, including the standard, ad-free plan, which will now cost $17.99 per month, up from $15.49.

The membership with ads will also see a $1 increase to $7.99.

This marks the second price increase in the US, following a similar hike in October 2023, which also saw price adjustments for some UK plans.

When asked about a potential price rise in the UK, Netflix responded by saying there was “nothing to share at the moment.”

Netflix finished 2024 with over 300 million total subscribers, surpassing its forecast of 9.6 million new additions between October and December.

Going forward, Netflix will no longer report quarterly subscriber growth, instead focusing on announcing key milestones for paid memberships.

In addition to Squid Game and the Paul vs. Tyson fight, Netflix streamed two NFL games on Christmas Day and plans to air more live events, including WWE wrestling.

The company has also secured broadcasting rights for the FIFA Women’s World Cup in 2027 and 2031.

“Netflix is showing its strength by raising prices,” Paolo Pescatore, a tech analyst from PP Foresight.

For the October-December period, Netflix’s net profit more than doubled to $1.8 billion, up from the previous year, while sales rose from $8.8 billion to $10.2 billion.