Los Angeles, California - Netflix on Tuesday said it added nearly 19 million subscribers during the holiday season to finish out last year with more than 300 million subscribers.

Company executives credited steady investments in shows and films with helping power growth at the streaming behemoth, all while announcing it is increasing prices in the US, Argentina, Canada, and Portugal.

"As we continue to invest in programming and deliver more value for our members, we will occasionally ask our members to pay a little more so that we can re-invest to further improve Netflix," the company said in a letter to investors.

Premium and standard memberships in the US will cost $2 more per month, $25 and $18 respectively, while a standard ad-supported tier will be $8 in an increase of $1 monthly, according to the company.

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In the final quarter of 2024, Netflix said it logged profit of $1.87 billion on revenue of $10.25 billion that grew double digits from the same period the prior year.

Shares jumped more than 14% to top $993 in after-market trades.

"We enter 2025 with strong momentum, coming off a year with record net additions – 41 million – and having re-accelerated growth," Netflix executives told investors.

They added that Netflix is in a "leadership position" when it comes to engagement, with about two hours daily per paid member.

"Our business remains intensely competitive with many formidable competitors across traditional entertainment and big tech," Netflix executives said.

"We have to continue to improve all aspects of Netflix – more series and films our members love, a great product experience, increased sophistication in our plans and pricing strategy including more advertising capabilities – and grow into new areas like live programming and games."

Netflix ended last year with a strong lineup that included a second season of the global hit Squid Game.

The streamer said that its ad-supported plans accounted for more than 55% of signups in countries where they are offered, growing nearly 30% overall from the prior quarter.

Growing its ad business is a top priority for this year, according to Netflix.

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In a bid to boost sputtering growth, the company launched an ad-subsidized offering in late 2023 around the same time as a crackdown on sharing passwords.

Looking ahead, Netflix forecasts 2025 revenue between $43.5 and 44.5 billion, and is targeting a healthy 29% operating margin.

The streaming service highlighted upcoming content, including new seasons of Wednesday, and Stranger Things.

The US will see 52 weeks of WWE professional wrestling programming and the return of NFL games on Christmas Day.

The company has begun to offer some users combined packages with its one-time rivals, making itself available through joint subscriptions with Peacock and Apple TV.

Netflix is seen as reigning supreme over the video content market, with Disney+ still struggling after a launch in November 2019 that featured a slew of new content from its blockbuster Marvel and Star Wars universes.