Netflix has been criticized as ‘ridiculous’ and ‘greedy’ after announcing plans to bump prices. The streaming giant – which reported record-high earnings in 2024 – has noted that subscribers in the US, Canada, Portugal and Argentina will face increases on their monthly plans. It is unknown if the UK will be affected.
Among the changes, Netflix’s cheapest monthly plan, which includes adverts, will increase by one US dollar to $7.99, while the premium plan, which promises unlimited ad-free movies, TV shows, and mobile games, will cost $24.99.
Following the decision, the streamer told investors that Netflix will “occasionally ask our members to pay a little more so that we can reinvest to further improve” the platform.
An announcement which has sparked a huge backlash on social media, subscribers have been threatening to cancel their subscriptions altogether.
Taking to X (formerly Twitter), one user wrote: “Enough is Enough @netflix because first you said that ‘sharing is caring’ but took that away. And now every other month you raise prices. Eventually, people will ban together & cancel. It’s coming!!! Greed eventually opens eyes.”
© LAURENCE CENDROWICZ“Cancel Netflix Now!!!!” prompted a second. “Streaming Services will continue to increase prices until they are met with cancellations. You as the consumer must create a hard ceiling on prices. That’s your job, your responsibility, as a consumer.”
Adding to the outcry, a third penned: “Seriously stop increasing your prices @netflix I’ll go back to DVDs at this rate.”
Last year, Netflix reported that it had made $39 billion (£31.5 billion) in revenues over 2024, up from $33.7 billion (£27.3 billion) in 2023. It also ended 2024 with 300 million global subscribers after gaining 19 million over the final three months of the year.
Dan Coatsworth, investment analyst at AJ Bell, said that it was “not a surprise that Netflix feels comfortable in raising prices” after emerging as the “king of the streaming platforms”.
“Customers love its content, so strike while the iron is hot and get them to pay more,” he explained.
While Netflix has been thriving with the release of popular series like Bridgerton, Black Doves and Squid Game, the streamer has also faced criticism from fans after announcing several cancellations in recent months. Axed for the time being; Kaos, Dead Boy Detectives, The Brother’s Sun and Ratched are just some of the beloved programmes wiped from the slate.
Fans were particularly disappointed when That ’90s Show was added to the Netflix graveyard after two seasons. “Netflix really has to stop cancelling shows after 1 or 2 seasons. Like, streaming services need to stop making anything if they’re gonna keep doing it,” a fan tweeted at the time.
“WTF @Netflix — why do you keep cancelling awesome shows? Imagine if every show was cancelled after two seasons just because it’s not getting the numbers you expect. Give a show a chance, especially this one!” agreed a second.
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