Netflix is set to increase the cost of its standard and ad-supported streaming plans.

• The cost of Netflix's streaming plans in the U.S., including the affordable ad-supported option, is being raised.
• The company announced that it will increase the majority of its membership plans in Canada, Portugal, and Argentina.
• The company reported fourth-quarter earnings on Tuesday.

is hiking the price of most of its U.S. plans.

On Tuesday, the streaming giant announced that its standard plan without commercials will increase from $15.49 a month to $17.99, while its cheaper, ad-supported plan, introduced to attract more subscribers, will increase from $6.99 per month to $7.99.

The monthly cost of Netflix's premium plan will rise from $22.99 to $24.99.

The company announced that it will increase prices in Canada, Portugal, and Argentina, following the release of its fourth-quarter earnings on Tuesday.

In recent years, major streaming services such as Netflix and its competitors have imposed price hikes on consumers. As a result, many streamers have opted for ad-supported plans to achieve profitability.

Netflix launched an ad-supported plan in November 2022 to address slowing subscriber growth, resulting in 70 million global monthly active users on its ad plans by the same month.

The company is intensifying its efforts to prevent password sharing in order to increase the number of paying customers.

Netflix has announced that the cost of adding "extra members" to standard plans without commercials will increase from $7.99 per month to $8.99, while the cost of extra members on ad-supported plans will remain the same.

During the fourth quarter, Netflix gained a record 19 million paid subscriptions, bringing its total to over 300 million members.

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