Netflix shares have roughly doubled in the past year, setting a high bar for future growth as the company's market capitalization overtakes the valuations of rivals Disney, Comcast, Warner Bros. Discovery,

Shares of Netflix rose 13% in afterhours trading as investors cheered the company's first U.S. price hike since 2023. The streaming service's move aims to capitalize on surging demand and sharp subscriber gains in the fourth quarter.

Netflix announced Tuesday it will raise prices on most of its subscription tiers in the US and Canada after the streaming giant reported 19 million new subscribers in the last quarter of 2024.

Netflix is hiking the price of most of its U.S. plans. The streaming giant announced on Tuesday that its standard plan without commercials will increase from $15.49 a month to $17.99. Its cheaper, ad-supported plan,