The streaming giant has jacked its ad-free rates by more than 11%. Here’s how much you’ll have to pay moving forward.
How much are Netflix prices going up?
This week Netflix asked Australian subscribers to pay at least 11% more for its ad-free plans. A premium subscription, which includes unlimited ad-free movies and shows, was previously $22.99 per month until mid-May. It’s now advertised at $25.99.
The standard Netflix plan (with ads) was raised from $6.99 to $7.99 per month – a 14% hike.
- Standard with ads: $6.99 per month to $7.99 per month
- Standard without ads: $16.99 per month to $18.99 per month
- Premium: $22.99 per month to $25.99 per month
“As we add more entertainment value, then, of course, we can go back to our subscribers and ask them to pay a little bit more to keep that virtuous cycle moving,” Netflix co-CEO Greg Peters said in April’s Q1 2024 earnings call.
Netflix advises that users will receive an email regarding the raise in subscription fees.
“If your price is changing, Netflix will send you an email with details about the price change one month before the billing date on which your price will increase,” a company statement reads.
“As we continue to add more TV shows and movies and introduce new product features, our plans and prices may change. We also may adjust plans and pricing to respond to local market changes, such as changes to local taxes or inflation.”
Australia is not the only country to pay more for the service. Netflix also upped prices in other territories recently.
“We’ve only really changed prices in a few big markets, and that was U.S., U.K., France late last year – and only on some of the plan tiers in those markets, not even all the plan tiers,” Netflix CFO Spence Neumann said on the Q1 2024 earnings call.
Tailoring pricing to each territory will continue, according to Netflix co-CEO Peters.
“We’ve also evolved our pricing and plans with multiple tiers, different price points across different countries. I think those price points are going to become increasingly different,” Peters says.
Traction in Australia
43% of Australians have a Netflix account, according to 2023 research by YouGov. Netflix states that 68% of Australians have access to the platform.
Globally, Netflix has 270 million subscribers, according to the company. In 2023 alone, users around the world collectively watched 183 billion hours of programming.
Telsyte data reveals that the number of connected devices in Australian homes is expected to grow over the next three years. By 2027, there will be 353 million Internet-connected devices according to the research firm, 100 million more than there were in 2023.
Bridgerton Season 3
The Netflix fee increase comes in the same week that the highly-anticipated third season of Bridgerton is released.
Actors Luke Newton and Nicola Coughlan visited Bowral in rural NSW to promote the series in April. Showrunner Jess Brownell also visited Australia for the week-long Bridgerton celebration in the Southern Highlands.
Bridgerton season 3 premiered on May 16. Viewership figures for that period have not yet been released.
‘Baby Reindeer‘ was the most-watched Netflix TV show in Australia during the most recent reporting period. ‘The Roast of Tom Brady‘ – which retired NFL star Brady reportedly earned USD$25-million to be a part of – was the second most popular show.
On the movie front, Margot Robbie’s ‘Barbie’ reigns at number 1. ‘Mother of the Bride’ takes second place.
Globally, the Tom Brady roast was the most popular English-language TV program. ‘Baby Reindeer‘ took second place. The first two seasons of Bridgerton, released in 2020 and 2022 respectively, also made the global Top 10.
Look back on the week that was with hand-picked articles from Australia and around the world. Sign up to the Forbes Australia newsletter here or become a member here.
