Netflix Subscription Prices Set to Increase Again This Year: Report


I have some unfortunate news for Netflix subscribers. Industry analysts suggest that Netflix may raise its subscription prices again in 2024, following a recent price surge in October 2023. Despite this, Netflix is also reducing its content offerings, having recently canceled 13 shows, including popular titles like “1899.”

What’s Behind Netflix’s Subscription Price Increases?

According to a report from Variety, a team led by UBS analyst John Hodulik stated in a research note dated February 27 that “they anticipate rate increases from Netflix this year“. Hodulik noted that Netflix experienced a 7% revenue gain in 2023 for their ad-supported tier and predicts that the streaming giant will aim to increase this number to 15% in 2024.

It’s common knowledge that Netflix raised its prices in October 2023, with the basic plan jumping from $9.99 to $11.99 per month in the United States. This increase also affected subscribers in countries like the United Kingdom and France. While Netflix has yet to release an official statement, it’s widely believed that a subscription price hike is inevitable in 2024.

During the Q4 2023 earnings call, Netflix Co-CEO Greg Peters mentioned that “the company had temporarily halted price increases but is now returning to its standard approach. He highlighted the positive reception to price hikes in the US, UK, and France, indicating a willingness to raise prices in other countries to continue investing in new content.” He also added:

How Does This Affect the Consumer?

Consumers have not reacted positively to the recent increase in Netflix subscription prices and the stricter password-sharing rule. While Greg Peters argues that the price hike is intended to enhance the consumer experience, these rapid increases could drive consumers toward more affordable options or third-party streaming platforms.

The new password policy, aimed at encouraging individual subscriptions, has instead inconvenienced people or families sharing a single account. Users now face a choice between paying more for a personal account or adapting to the new password-sharing rules. These developments reflect a trend in the streaming industry where prices are raised at will, potentially taking advantage of consumers’ need for entertainment.


What's Your Reaction?

hate hate
333
hate
confused confused
66
confused
fail fail
533
fail
fun fun
466
fun
geeky geeky
400
geeky
love love
200
love
lol lol
266
lol
omg omg
66
omg
win win
533
win

One Comment

Your email address will not be published. Required fields are marked *

  1. Thanks for sharing. I read many of your blog posts, cool, your blog is very good.