Netflix users in Singapore have started paying more for the streaming service, raising the specter of price increases getting rolled out elsewhere.
According to an email from a Cord Cutters News reader, users in the country will now pay 13.98 Singapore dollars (SGD) a month for Netflix’s basic tier — a 1 SGD increase from 12.98 SGD a month. The streamer’s Standard tier now costs 19.98 SGD a month — a 2.50 SGD increase from 17.48 SGD a month. The Premium tier now costs 25.98 SGD a month — a 4SGD increase from 21.98 SGD a month.
This comes after Netflix hiked prices in Turkey last week, the second time in four months. On Tuesday, Netflix hinted at another price hike, noting that it would “occasionally ask our members to pay a little extra” in its letter to shareholders following the release of its fourth-quarter results.
Historically, those price increases overseas portend similar increases domestically. After Turkey’s first price increase in September, Netflix announced an increase to its premium tier. The company has largely left its $6.99-a-month ad-based tier unchanged since it launched in late 2022, but it too could be overdue for an increase.
“As we invest in and improve Netflix, we’ll occasionally ask our members to pay a little extra to reflect those improvements, which in turn helps drive the positive flywheel of additional investment to further improve and grow our service,” Netflix said.
During its earnings report, Netflix revealed that it gained 13.1 million paid subscribers in the fourth quarter for a total of 260.3 million subscribers worldwide. It posted a profit of $938 million in the period.
Netflix wasn’t immediately available for comment.