Furious Netflix customers have vowed to boycott the streamer after announcing another price rise, despite a major surge in subscribers. The company revealed an ad-supported plan will rise by $1 to $7.99 per month, which is a 14 percent rise. The standard ad-free tiers goes from $15.49 to $17.99. The highest-priced premium tier is increasing by $2 to $24.99. Price hikes will hit almost immediately, and go into effect during subscribers' next monthly payment. But current customers have taken to social media to blast the streaming service, with some even threatening to cancel their plans amid the latest hike in prices. The last price rise was just in October 2023.

One angry X/ Twitter user said: 'Recently took out ad-free @Netflix and now I'm going to cancel it because of yet *another* price increase. '#Netflix is simply gouging its customers. It's mostly foreign programs I have to watch with subtitles, anyway. '[Expletive] that. I'm going to read more books'. Another raging Netflix consumer wrote: 'I'm seriously considering Cancelling my @netflix subscription these constant price hikes are getting out of hand they would rather increase prices than to lose a nickel of profit'.

A third added: 'Hey @Netflix When is enough going to be enough for you??? With another price increase, you are becoming worse than cable companies! 'You are raising the standard price by 2.50, THAT IS GREED!! Not asking us to pay more to reinvest!!'. One more furious customer suggested: 'The FTC needs to look at Netflix because I feel as though we had 6 price increases in 2 years. 'What have they added to demand a higher price?'

And a final Netflix user said: 'Goodbye @Netflix. You finally implemented the price increase that broke by back. #Cancelled'. It comes after Netflix shares soared in premarket trading on Wednesday after the company reported a blockbuster holiday quarter as a robust content line-up and its entry into live sports streaming brought in a record number of new subscribers. The streaming giant's stock surged over 14 percent to $994.36, poised to boost its market capitalization by $53 billion to about $425 billion, if gains hold. The year 2024 was pivotal for Netflix as it ventured into live sports.

It partnered with WWE, broadcast two NFL games on Christmas Day, and secured U.S. broadcast rights for the 2027 and 2031 FIFA Women's World Cups. 'Netflix is simply running away with the streaming market thanks to excellent execution, a stellar content slate, and scale advantages,' said Evercore ISI analysts. The company added 18.9 million subscribers in its holiday quarter, blowing past Wall Street's estimate of 9.2 million additions for the quarter and the 13.1 million increase it posted a year ago, according to LSEG data. Its fourth-quarter revenue and profit also beat estimates, as Netflix's efforts to shift investor focus away from subscription growth to other performance metrics paid off.

As well as live sporting events, the return of its popular South Korean series 'Squid Game' was the key to attracting a record number of new customers. In a sign that Netflix is confident the price increases won't trigger a backlash resulting in mass cancellations, Netflix slightly raised its revenue outlook for this year to $44 billion. That would translate into a roughly 13 percent increase from last year. The streaming giant said that as it continues to invest in programming that its member's value, it will increase prices for the service for most plans in the U.S., Canada, Portugal and Argentina. Netflix said its fourth-quarter programming slate surpassed its internal expectations.

The Jake Paul vs. Mike Tyson boxing match became the most-streamed sporting event and the two NFL games on Christmas Day delivered two of the most-streamed competitions in league history. The service also benefited from the second season of its dystopian thriller ' Squid Game ,' which the company said is on track to become one of its most-watched original series. The company has the lowest rate of cancellations among the subscription streaming services, with a churn rate of 1.8 percent in December, according to researcher Antenna.

This quarter will also mark the last time Netflix reports subscriber additions, as the company emphasizes other performance metrics including revenue and profit - a change analysts attribute to slowing subscriber growth. Netflix is the latest to raise prices as TV streamers seek to turn a profit on businesses that until now have lost money. Streaming services have invested heavily in big budget shows while offering low-cost subscriptions, but investors now want returns. Disney's price hikes for its streaming plans in America took effect in October - just a year after the last hike.

Rises affect Disney+, Hulu and ESPN - the three streaming services run by the entertainment giant. Disney+ with ads rose from $7.99 to $9.99 a month, marking a 25 percent hike. The ad-free version is now $15.99, up by $2. At Hulu, the ad-supported plan has increased by $2 to $9.99, while the ad-free option has gone up $1 to $18.99. Peacock raised prices starting July 19 by 33 percent. The monthly rate for its standard service - confusingly called 'Premium' - increased by $2 to $7.99, and the annual fee went up by $20 to $79.99.

In late June, Paramount+ Essential announced a $2 increase to $7.99 for new customers, also a 33 percent hike. Current customers will keep their rates. Earlier in June, Warner Bros. Discovery raised its ad-free Max subscription price for the second time this year. The $1 price rise to $16.99 a month for the ad-free tier took effect last month for new subscribers. The 'ultimate' ad-free option, which offers 4k streaming and the ability to run four accounts at the same time, will also be raised by $1 to $20.99. Spotify also announced last month that the cost of its Individual ad-free premium subscription plan in the US will go up by $1 a month to $11.99.

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