Netflix Inc. shares soared to a record high on Wednesday after the streaming giant reported its biggest quarterly subscriber gain in history, buoyed by its first major live sporting events and the return of Squid Game.

Netflix reports record-breaking subscriber growth, surpassing 300 million. However, price hikes in key regions like the U.S. and Canada have drawn criticism, reigniting debates about streaming costs and user affordability.

Netflix Inc. may have a hard time topping its mammoth 2024, but Wall Street is optimistic about offerings that include major names in entertainment and sports.

New year, new price hikes. Netflix revealed it's jacking up subscription prices in the U.S., Canada, Portugal, and Argentina — including the first increase of its ad-supported plan. Starting today, the cheapest Netflix plan will cost $7.99 per month, while the premium subscription with 4K streaming will set you back $24.99 a month.

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Netflix’s cheapest plan in the US with ads will go from $6.99 to $7.99 per month, while its priciest subscription is nearly $25.

Netflix just had a record quarter of new subscriber growth, crossing the 300 million subscriber milestone once again. To celebrate the milestone, the company has announced yet another price hike on most of its plans in the U.

In Q4 2024, Netflix gained more subscribers than it ever has in a single quarter, buoyed by live sporting events and a new season of one of its most popular series, Squid Game. The streaming platform added 18.91 million subscribers for a total of 301.63 million. Netflix has said it will not report quarterly subscriber numbers in future reports.

Despite such a record-breaking qurater for Netflix, the company is reportedly preparing to increase the price of its "most popular U.S. plan" by $2.50. The publication states the price of this plan — which could be the Standard Plan — will jump to $17.99 per month.

Netflix ( NFLX) is set to report its fiscal fourth quarter earnings on Tuesday after market close. Analysts expect the streamer to deliver strong results after it ended the year with two back-to-back NFL games, a successful "Jake Paul vs. Mike Tyson" boxing match, and the return of "Squid Game."

As TikTok faces a potential ban, various bidders, including Elon Musk and Larry Ellison, are key contenders to buy the platform. Meanwhile, Netflix remains a possible option among streaming giants, though the company has not historically pursued major acquisitions.

The app, which was set to be banned, now has a bit more time to find a home and address national security issues