Netflix is hiking the price of most of its U.S. plans. The streaming giant announced on Tuesday that its standard plan without commercials will increase from $15.49 a month to $17.99. Its cheaper, ad-supported plan, which was more recently introduced to attract more subscribers, will increase from $6.99 per month to $7.99. In addition, the monthly cost of Netflix’s premium plan will increase from $22.99 to $24.99. The company, which reported fourth-quarter earnings on Tuesday, said it will also raise prices in Canada, Portugal and Argentina.

Netflix is increasing subscription prices in the U.S. and other markets — including the first hike on its ad-supported plan. The streamer revealed the price increases along with its Q4 2024 earnings results Tuesday, when it announced its biggest-ever quarterly increase in subscribers with a gain of 18.9 million for the period. Under the new pricing in the U.S., Netflix’s Standard plan without ads will rise by $2.50 — going from $15.49 to $17.99 per month. It’s been three years since Netflix upped the pricing of the Standard tier, which provides two simultaneous HD streams.

Netflix added 18.9 million subscribers in its holiday quarter, blowing past Wall Street’s forecasts, with live sporting events and the return of its popular South Korean series “Squid Game” attracting a record number of new customers, the company reported Tuesday. The streaming giant said it will increase prices for most service plans in the US, Canada, Portugal and Argentina as it spends more on programming. In the US, the basic service with ads would increase by $1 a month to $7.99, a 14% price hike, while the premium package will cost $24.99, up 9% from existing pricing. Investors reacted enthusiastically to the results, sending Netflix’s stock surging about 13% in extended trade, lifting its stock market value by almost $50 billion. Over the last year, Netflix shares have gained more than 77%, outpacing the S&P 500’s 24% rise.