First the good news. Netflix reported record new subscriber growth in the final quarter of 2024, thanks to high-profile live sports and new programming. Now, the bad news: The company has also announced an increase in subscription prices across the board.

Three things to know:

1. The company reported nearly 19 million new subscribers in the final fiscal quarter of 2024, the largest increase in subscribers in three months. This brings their global subscriber total to 302 million, the most of any streaming platform.
   
2. Netflix also announced price increases for all subscription tiers in the United States. A standard account with ads is now $7.99 per month, an ad-free subscription is $17.99, and the premium plan is $24.99. This reflects monthly price increases of $1, $2.50 and $2 respectively.
   
3. Months after Netflix last raised prices, the company eliminated its cheapest, ad-free option.

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What is Netflix doing right?

It appears the company's foray into live sports has resonated with viewers. exist their letter to investorsthe company highlighted the success of the November 15 live boxing match between Mike Tyson and Jake Paul. According to Netflix, the game was watched by 60 million households, making it the most live sporting event in history (despite serious technical glitches that left subscribers angry and critics doubtful that Netflix would be able to host such a massive broadcast) scale activities).

The next major sporting event was far less problematic: Two NFL games were broadcast live on the platform in a few weeks, including a widely watched Beyoncé halftime show. A costly reboot of WWE wrestling is also set to take place in 2025.

Another factor in Netflix’s success? Hit shows that exceed company expectations, like Season 2 squid game. The industry's largest streaming platform hopes viewers will be equally hungry for other shows returning with new seasons in 2025, such as Wednesday and stranger things.

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