Netflix raises subscription prices amid record 19 million new subscribers

Netflix has announced a price increase for all its subscription tiers, with changes impacting the ad-supported, Standard, and Premium plans. The monthly prices will rise by $1 to $2.50, reflecting the company's efforts to invest further in programming and improve service, as it recently added nearly 19 million new subscribers in the fourth quarter, setting a record. This surge in subscribers coincided with Netflix's expansion into live programming, highlighted by events like the boxing match between Jake Paul and Mike Tyson. The company reported a revenue increase of 16% for the quarter, totaling $10.2 billion, and net income nearly doubled year-over-year to $1.87 billion. Netflix's share price rose significantly following the earnings announcement, indicating investor confidence in its strategic direction. The price adjustments will take effect soon, although specific implementation dates have not been disclosed.