Streaming giant Netflix has raised the monthly prices for all of its subscription tiers, after a year in which the company made 52% more in operating income.

The lowest priced Netflix tier, which includes ads, now costs $7.99 a month. The standard tier without ads costs $17.99 a month and the premium tier, which supports more devices and higher-definition streams, costs $24.99 a month.

The new prices represent price increases of $1, $2.50 and $2.00 a month, respectively, according to technology website The Verge. Customers will start paying the new price during their next billing cycle, Netflix spokesperson MoMo Zhou told The Verge.

Netflix is also offering extra member options for certain tiers, allowing people who do not live with the plan holder to join with their own account and password for an extra cost, $6.99 a month with ads and $8.99 without.

Customers in the standard tier without ads can add one extra member to their plan, while premium subscribers can add two.

The cost increases to consumers are coming after a banner year for the streamer. Netflix’s subscriber base grew by over 15% year-over-year from more than 260 million subscribers worldwide to more than 301 million, according to a letter from the company to shareholders.

In terms of revenue, Netflix passed the $10 billion mark in the fourth quarter of fiscal year 2024, and saw year-over-year revenue growth of over 16%. The company made 52% more in operating income in the fourth quarter of fiscal year 2024 compared to the same time in 2023.

• Brad Matthews can be reached at bmatthews@washingtontimes.com.