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[Kizzy Burnworth]

Depending on your subscription plan, the price hike adds up to an extra $24 or $36 you pay each year to the streaming service. Below, CNBC Select shares some ways to save on (and even benefit from) your Netflix subscription.

While you're unlikely to be happy about paying a higher monthly Netflix bill, it does mean you earn a bit more from that 6% cash back. Amex's cash back is earned in the form of Reward Dollars, which cardholders can then use as a statement credit to lower their credit card balance.

And with the U.S. Bank Cash+ Visa Signature Card, cardholders can choose to earn 5% cash back on two bonus categories each quarter, on their first $2,000 in combined eligible net purchases, then 1%. Television, internet and streaming services are counted as a bonus category and U.S. Bank's website lists Netflix as a sample qualifying merchant. Again, you can use this cash back to essentially lower your credit card bill.

T-Mobile has a "Netflix On Us" deal where qualifying cell phone plans get a free Netflix subscription. Those who aren't happy with their current cell phone provider should consider this benefit, which not only makes Netflix complimentary but also consolidates your streaming and cell phone bill.

Netflix allows you to pause your membership and come back to it. This can give you a break from the monthly subscription if you're looking to cut costs or if you're just not watching a particular show at the moment.

You just have to connect the bank account you use to pay your Netflix subscription to Experian Boost, and Experian will add your payments to your Experian credit file. Consumers can link positive payment data as far back as 24 months. Experian Boost also includes access to your FICO Score and Experian free credit monitoring that alerts you to changes on your credit report, such as new account openings in your name and balance updates.

Basic and Premium plan Netflix subscribers will now pay a little more each month for the streaming service. To help save on this cost, get a credit card that rewards streaming purchases, switch your phone plan to T-Mobile or take a pause on your subscription. And, while you're paying more for it, make sure that monthly Netflix bill is helping your credit with Experian Boost.

At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed decisions with their money. Every personal finance article is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of personal finance products. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics.

Netflix is also making basic plans unavailable to new customers in several countries, including the UK and US. Basic plans in those countries have now been replaced with standard subscriptions with ads. Ad-supported plans are much more affordable, costing 4.99 per month in the UK and $6.99 per month in the US.

Please note: the prices included in our study are the base price as advertised by Netflix. They do not include the various taxes and other charges users may face. We are aware that several countries, including Argentina, have these charges but our study focuses on the price charged by Netflix.

Second, we evaluated the cost per month in each country and how these shape up against others (based on current exchange rates at the time of writing). We have also analyzed the 13 countries with ad-based subscriptions (Australia, Brazil, Canada, France, Germany, Guernsey, Italy, Japan, Mexico, Spain, South Korea, UK, and US) separately to see how these plans compare.

At the other end of the scale are a number of African and European countries and Fiji where none of their plans are cost-effective, despite recent library growth across the majority of these countries. This is due to extortionate monthly costs (Liechtenstein and Switzerland) or library sizes that are more than three times below average (Zambia, Seychelles, Uganda).

The homeland of Netflix itself, the US, also features as one of the least cost-effective countries across all of its plans. This is, again, due to its average library size and above-average monthly costs. It ranks as the eleventh, twenty-first, and seventeenth least cost-effective country for its basic, standard, and premium plans respectively.

One of the biggest advantages of streaming platforms over standard TV channels is their lack of adverts. So are the cheaper plans with ads on Netflix worth it? And do they offer the best value for money when we compare them to basic plans without ads from around the world?

It probably goes without saying that all 13 countries save a reasonable amount of money per title when opting for the standard plan with ads. But as the above table demonstrates, some get a better deal than others.

One of the most expensive countries, Guernsey, saves the most per title when choosing the standard with ads plan (saving nearly $0.0018 per title), while Brazil (which boasts the most cost-effective standard with ads plan) saves a fourth of what Guernsey users do.

Here we can compare all of the countries Netflix is available in (245 in total) to see which countries pay the most and least for their subscriptions on a cost-per-month basis. We can also see just how the recent price hikes and cuts have affected these costs.

The basic subscription tier lets you stream content in 720p HD on one device at a time. Both standard plans (with ads and ad-free) support 1080p full HD streaming and up to two devices at once. Only a premium subscription allows you to watch Netflix in 4K UHD on four supported devices at a time.

Netflix discontinued the Basic plan in some countries (including the US and the UK) as part of its efforts to adapt to the latest market trends and enhance its service model. The strategy is aimed at simplifying the subscription offerings and encouraging users to opt for other plans like Standard with ads or Premium, which provide more features or content. Obviously, these plans bring more financial gain to the company too.

In 2023, Netflix lost customers. During the second quarter of the year, the company reported a loss of approximately 970,000 subscribers. This was the largest quarterly subscriber loss that Netflix experienced since it launched. The good news for Netflix is that this loss was less severe than expected. Netflix had initially projected that it was going to lose 2 million following unexpected growth caused by the pandemic.

During the early phase of the pandemic in 2020, Netflix gained nearly 26 million subscribers in the first half of the year. Following this explosion, a readjustment was always expected and the fact that it lost 1 million fewer subscribers than predicted actually demonstrates impressive retention.

Yes, Netflix content is different in every country. This is due to licensing restrictions. As such, you may find that when you travel abroad on vacation, you can no longer stream some TV shows and movies. This is one of the reasons why we recommend you use a VPN to securely access your Netflix account as normal.

While Netflix did used to offer free trials, this is unfortunately no longer the case. Its cheapest plan is Standard with ads which costs $6.99 a month in the US (prices vary by country). The Netflix password-sharing crackdown means that getting free Netflix from a friend or family member is no longer on the table either.

With the exception of the basic tier, all Netflix plans support at least two devices at a time. So you may be able to get Netflix for free if you live with someone who is happy to share their subscription.

Yes. If you are an expat or somebody who is living abroad for work or studying, you can easily take advantage of cheaper Netflix prices back home. As you already have a valid payment method in your home country, it is extremely easy for you to connect to a VPN server in your home country to purchase a cheaper subscription.

For this reason, it is a good idea to check the difference in cost between where you are now and your home country. If you are visiting the UK, the US, or some other country where Netflix is expensive, the savings could be pretty decent. Netflix might require a local form of payment.

The only caveat to all of this is that using a VPN to buy a cheaper Netflix subscription is technically against the terms of service. So, doing so, even if you are only living abroad because of your studies is technically a breach. For this reason, you should remember that you always use a VPN at your own risk and Netflix withholds the right to cancel an account if it believes its policies were breached.

While the lack of discount codes for older adults may seem unfair, the upside is that the standard Netflix plan is affordable for most people. It allows you to enjoy various movies, shows, documentaries, and more. However, the standard plan also includes ads, which can make the viewing experience frustrating for many people. Paying a larger fee allows you to do away with the more frustrating aspects of the basic plan, though this takes a larger chunk out of your wallet.

Netflix operates on a tiered pricing model, with each tier offering subscribers a distinct set of features. Below is an illustrative table and in-depth description demonstrating the distinct subscription plans and their corresponding costs.

However, the low monthly fee comes with a few drawbacks. The most significant annoyance is the presence of ads. Ads can interrupt an entrancing show or movie, taking you out of the zone. It also forces you to waste time watching things you might not be interested in.

Likewise, some TV shows or movies may not be available with the standard plan. Another downside is that you are limited to using Netflix on no more than two devices, such as your cell phone, tablet, or computer.

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