Netflix is hiking prices again

The Street

TheStreet’s Conway Mittens brings you the biggest news of the day, including what investors are watching and another Netflix price hike.

Transcript

00:00I'm Conway Gittens reporting from the New York Stock Exchange.

00:02Here's what we're watching on the street today.

00:04Earnings season is keeping a fire under the stock market

00:07with the S&P 500 now flirting with a record high.

00:10United Airlines beat sales and profit forecast

00:13and gave a robust 2025 outlook.

00:16It's filling up seats all over the plane.

00:18Procter & Gamble also beat expectations

00:20thanks to solid demand for staples like toilet paper.

00:25Keeping with the corporate theme,

00:27Netflix is boosting prices again.

00:29The ad-free standard plan is going to $17.99 a month

00:34from $15.49.

00:36That's a jump of two and a half dollars.

00:38Meanwhile, the ad-supported plan is going up by a dollar

00:41to $7.99 a month from $6.99.

00:45It's first price hike since the tear was launched.

00:47The price for the premium family plan is rising two bucks

00:51to $24.99 a month.

00:54So why are prices going up again?

00:56Netflix told investors in a fourth quarter earnings update

00:59quote, as we continue to invest in programming

01:03and deliver more value for our members,

01:05we will occasionally ask our members to pay a little more

01:09so that we can reinvest to further improve Netflix.

01:12The price hikes come amid the biggest net new subscriber gains

01:16in the company's history.

01:1818.9 million people signed up for Netflix across the globe

01:22in just the fourth quarter.

01:23That's 10 million more people than expected.

01:27Those gangbuster numbers reflect big early wins for Netflix

01:31as it spreads into live programming.

01:33The Mike Tyson-Jake Paul fight drew an average global audience

01:37of more than 100 million.

01:39The NFL Christmas Day games with Beyonce as the halftime act

01:43drew 65 million viewers.

01:45But it's not just live programming.

01:47Squid Game Season 2 is the third most watched series

01:50for Netflix globally.

01:52Having content that resonates comes with a cost,

01:55leading Netflix down the road to another price hike.

02:00That'll do it for your daily briefing

02:01from the New York Stock Exchange.

02:03I'm Conway Gittens with The Street.

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