When Netflix increased prices this week, Christopher Duggan was annoyed. The 59-year-old communications professional in the St. Louis area is sticking with Netflix and two other streaming services but said he’s tired of constant price increases and haggling with his cable and internet provider over escalating bills.

Netflix is starting off the new year with another subscription price hike. The latest price change, Netflix's first in the U.S. since October 2023, comes after the company reported adding a record 19 million new subscribers in the most recent quarter for a total of 302 million members. Revenue was up 16% year-over-year.

In an email to CBS MoneyWatch, Netflix said it's boosting its subscription plans for American customers by about $1 to $2.50 per month, depending on the plan. A standard plan with ads will rise to $7.99 a month from the current $6.99