Netflix Raises Prices in Australia: Premium Plan Nears $30 Per Month

Netflix has implemented a price increase for all subscription tiers in Australia, with the Standard plan without ads rising to $20.99 and the Premium plan increasing to $28.99 per month. The changes will affect new customers immediately and existing subscribers during their next billing cycle. The price hike places Netflix's Standard and Premium tiers above most competitors.

Netflix has announced a price increase for all subscription tiers in Australia, effective immediately for new customers and during the next billing cycle for existing subscribers. The Standard plan without ads will rise to $20.99 per month, while the Premium plan will increase to $28.99 per month. These changes place Netflix's Standard and Premium tiers above most competitors.

The price hike marks the second increase in just over a year, following a 10% price rise in early 2024. The Standard with Ads plan now costs $9.99 per month, up from $7.99, while the Standard plan has risen to $20.99 from $18.99. The Premium plan has increased to $28.99 from $25.99 [1].

The price increase comes on the heels of Netflix's strong financial performance. The company reported a 45% year-over-year profit increase to $3.1 billion for the second quarter, with revenue rising 16% to $11.1 billion. Netflix attributed the gains to higher subscription prices and a growing advertising business [2].

Netflix's latest price hike is part of a broader strategy to increase revenue and profitability. The company expects ad revenue to nearly double in 2025 and is targeting $9 billion annually from ad-based subscriptions by 2030. Netflix has also been investing heavily in international programming, with Korean content continuing to dominate globally.

References:
[1] https://www.reddit.com/r/australia/comments/1movwst/netflix_raises_monthly_cost_for_australian_users/
[2] https://economictimes.indiatimes.com/news/international/global-trends/netflix-hikes-plan-prices-by-up-to-43-check-country-new-rate-and-other-details/articleshow/123249126.cms