Netflix has achieved a significant milestone by surpassing 300 million subscribers, culminating in a record-breaking quarter. The company concluded the fiscal year 2024 with 302 million paid subscribers, having added a record 19 million in the fourth quarter alone, and a total of 41 million for the entire year. This marks the last time Netflix will report subscriber numbers, although they plan to announce paid memberships when reaching key milestones.

Alongside this growth, Netflix announced a price increase across most plans in the U.S., Canada, Portugal, and Argentina. This marks another adjustment within a little over a year since the last hike in 2023, following a series of increases dating back to 2014. The company justified the move in their shareholder letter, stating, "As we continue to invest in programming and deliver more value for our members, we will occasionally ask our members to pay a little more so that we can re-invest to further improve Netflix."

Specific details on the new pricing were not disclosed in the letter, but reports from The Wall Street Journal and Bloomberg indicate that the ad-supported tier will rise from $6.99 to $7.99 per month, the standard ad-free plan from $15.49 to $17.99 per month, and the premium tier from $22.99 to $24.99 per month. Additionally, Netflix introduced a new "extra member with ads" plan, allowing individuals on an ad-supported plan to add someone outside their household for an additional fee, a feature previously exclusive to standard and premium plans.

Financially, Netflix reported a 16% year-over-year increase in quarterly revenue, reaching $10.2 billion, and a similar rise in annual revenue to $39 billion. The company forecasts a growth of between 12% and 14% for the year 2025.