Netflix users threaten to end subscriptions over 'ridiculous' new announcement

Would you be willing to pay $24.99 for a Netflix subscription?

Well, that's the current debate as the streaming giant revealed its plans to raise prices in a move, which has seen many users threaten to end their subscriptions - with the pricing having already come into play.

Netflix announced that it earned $39 billion in revenue last year (Getty stock)

Netflix reported profit of almost $40 billion

The announcement, which has been slammed as 'ridiculous', comes after Netflix reported that it made $39 billion last year - an increase of 15 percent on the year before, having received $33.7 billion in 2023.

It also gained 19 million more subscribers worldwide in the final quarter of 2024, taking the streaming service to the 300 million global customers.

Netflix new pricing plans

So how much has it gone up by?

Well, if you're currently enrolled on the $6.99, the one with adverts, you'll now have to fork out an extra dollar each month with it rising to $7.99.

Then the standard subscription, without adverts that we currently pay $15.49 a month for will now be $17.99.

Finally, the premium plan which is a $22.99 has risen to $24.99 - while adding an extra member now costs $8.99 from $7.99.

Netflix prices have gone up and depending on your plan you could be forking out $2.50 more per month (Getty stock)

Reaction to the price hike

Reacting to the price hike on Twitter, one user wrote: "Netflix raising their prices AGAIN is ridiculous and greedy as f***. I wish we could all band together and cancel our subscription as a whole for 30 days. The message that would send would be iconic!"

While another wrote: "Seriously stop increasing your prices @netflix I’ll go back to dvds at this rate."

"$25 for netflix is genuinely insane. not even in like the top five streaming services or producing much of anything worth watching anymore but repeatedly charging more for increasingly stupid tv. incredible business model," a third penned.

While price increases are frustrating, they are inevitable and I'm sure we'll all still be flicking Netflix on in our down time (Getty stock)

And they weren't alone.

Fans fumed on the social media platform, with another writing: "Where is the quality content to match these price increases every 5 days? @netflix be f***ing serious u have about 2 good shows left."

Another added: "On February first, everyone should #CancelNetflix. Between price hikes, fewer quality viewing options, and limiting logins, @Netflix needs to know enough is enough."

With a sixth typing: "I’m sick of these companies raising prices for literally more capital gains. I am cancelling Netflix! I am not paying you $25 dollars a month to use your service. This is bulls***!"

What are your views on the price rises?