Netflix Subscriber Base Surges, So It’s Raising Prices Again

Netflix will stop reporting its quarterly subscriber numbers, but it went out with a bang, adding more than ever before. The service added 19 million paying customers in its fiscal fourth quarter, a record, bringing its total subscriber base to over 300 million for the first time.

Netflix reported a net income of $1.9 billion on revenues of $10.2 billion for the quarter ending December 31. Those figures represent gains of 109 percent and 16 percent, year-over-year (YOY) respectively.

“In [our fiscal fourth quarter, revenue increased 16 percent YOY, helped by 19 million paid net additions, while operating income rose 52 percent YOY,” a Netflix letter to subscribers explains. “We finished 2024 with 302 million memberships.”

Netflix cited the success of Squid Game season 2, the movie Carry On, the Jake Paul vs. Mike Tyson fight, and its two Christmas Day NFL games for the surge. In the previous two quarters, it added 13 million and 5 million new subscribers, respectively. Netflix provided more number one shows in the weekly streaming top 10 charts than all over services combined, it says. And it experienced more view hours in the top 10 than all other services combined.

As a result of this success, Netflix raised its fiscal year 2025 growth projections to $43.5 billion to $44.5 billion, a gain of $500 million. It expects 12 to 14 percent revenue growth YOY, but it will no longer report its subscriber gains or numbers each quarter. Instead, it will report paid membership numbers as they cross specific milestones.

Unfortunately, Netflix is raising prices in the United States, its biggest market, and in Argentina, Canada, and Portugal. It’s most popular plan, Netflix Standard, will go up by $2.50 per month to $17.99 per month. Netflix Standard with Ads is going up by $1 per month to $7.99 per month. Premium memberships will rise $2, to $24.99 per month. And the cost of adding additional users will go up by $1 per user per month.