Netflix is hiking the price of most of its U.S. plans.
The streaming giant announced on Tuesday that its standard plan without commercials will increase from $15.49 a month to $17.99. Its cheaper, ad-supported plan, which was more recently introduced to attract more subscribers, will increase from $6.99 per month to $7.99.
In addition, the monthly cost of Netflix’s premium plan will increase from $22.99 to $24.99.
The company, which reported fourth-quarter earnings on Tuesday, said it will also raise prices in Canada, Portugal and Argentina.
Consumers have been faced with numerous price hikes in recent years across major streaming services including Netflix and its competitors, including Disney’s apps and Warner Bros. Discovery’s Max. Streamers have increasingly turned to higher prices and ad-supported plans as they look to reach profitability.
“When you’re going to ask for a price increase, you better make sure you have the goods and engagement to back it up,” said Netflix co-CEO Ted Sarandos during Tuesday’s investor call, noting upcoming
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