Netflix will raise prices across a number of countries after adding nearly 19 million subscribers in the final months of 2024.

The streaming company said it will increase subscription costs in the United States, Canada, Argentina and Portugal.

“We occasionally ask our members to pay a little more so that we can reinvest to continue improving Netflix,” it said.

Netflix announced better-than-expected subscriber numbers, helped by the second series of South Korean drama Squid Game as well as sports including the boxing match between influencer-turned-fighter Jake Paul and former world heavyweight champion Mike Tyson.

In the US, prices will rise on almost all plans, including the ad-free standard subscription, which will now go up from $17.99 (£14.60) to $15.49 a month.

Its membership with ads will also increase by a dollar to $7.99.

Netflix last raised prices in the US in October 2023, and it also scrapped the cost of some plans in the UK.

When asked if prices in the UK were due to rise, a Netflix spokesperson said “nothing to share at this time”.

The company said it completed more than 300 million total subscribers last year. It was expected to add 9.6 million new subscribers between October and December, but that figure was far exceeded.

This is the last time Netflix will report quarterly subscriber growth — and it said it will “continue to announce paid memberships as we pass key milestones.”

As well as the Squid Game and the Paul V Tyson fight, Netflix also streamed two NFL games on Christmas Day.

It will broadcast more live events, including WWE wrestling, and has bought the rights to the FIFA Women’s World Cup in 2027 and 2031.

Paolo Pescatore, a technology analyst at PP Foresight, said Netflix “is now flexing its muscle by adjusting prices because of its strong and diversified programming lineup compared to rivals.”

Net profit between October and December doubled to $1.8 billion compared to the same period a year ago.

Sales rose to $10.2 billion from $8.8 billion.