Netflix has increased prices in several countries following a significant rise in subscriber numbers

On Tuesday, Netflix reinforced its top spot in the streaming video market, with a combination of live sports, popular returning shows, and standout moments like Beyoncé’s halftime performance, which helped it gain a record number of subscribers over the holiday quarter.

The company gained 18.9 million subscribers in the fourth quarter, increasing its total global subscriber base to almost 302 million customers—a figure that far surpasses its Hollywood streaming competitors.

Netflix aimed to take advantage of its soaring popularity by increasing prices in the US, Canada, Portugal, and Argentina as it invests more in programming. In the US, the ad-supported service will now be priced at $7.99 (approximately Rs. 690) per month, up from $6.99 (around Rs. 605), while the premium package will rise to $24.99 (about Rs. 2,163), reflecting a nine percent increase from the current rates.

Netflix’s increasing focus on live-streamed events is capturing the attention of tens of millions of viewers. The heavyweight boxing match between Jake Paul and Mike Tyson in November garnered 65 million streams. The two National Football League games on Christmas Day, one of which included a halftime performance by Beyoncé, averaged 30 million global viewers, making them some of the most-streamed events in league history.

“To put it plainly, it’s the content that attracts users to streaming services,” stated Mike Proulx, Director at Forrester Research. “With an unprecedented surge in subscribers, Netflix’s focus on high-quality content has contributed to a robust overall performance this year and in the fourth quarter.”