Netflix will soon raise prices. A possible increase of up to several dozen percent
There are many indications that there will be a significant increase in subscription prices for the popular streaming service this year.
Netflix and other large streaming platforms, of which there are more and more on the market (Disney+, Amazon Prime Video, HBO Max – these are just some of the most popular ones) are enjoying growing interest among recipients. Viewers are increasingly giving up traditional television in favor of modern platforms offering access to rich catalogs of films and series. And this, according to analysts, may contribute to gradual increases in subscription prices for these services.
The price of Netflix will increase in 2024
According to information provided by analysts from UBS Securities, Netflix will soon increase the prices of its subscriptions and this will happen in 2024. The company wants to accelerate the growth of its revenues and profits, among others, by using: from the weakening position of linear television, as well as the fact that it managed to limit the sharing of joint accounts by many people at the same time.
According to analysts, increasing subscription prices, along with an increase in advertising revenues and acquiring a large number of new users, should increase the company's revenues in 2024 by 15%, while in 2023 the increase was 7%.
Netflix prices in the US have already increased significantly
Last October, the price of the basic Netflix subscription in the United States increased from $9.99 to $9.99. to $11.99 monthly. American users of the platform therefore had to face a price increase of at least 20%.
Now many European countries, including Poland, may suffer a similar fate. Especially since Netflix prices have recently also increased in France and the UK. UBS Securities analysts believe that further increases are only a matter of time and will certainly take place this calendar year.
Fun fact: Netflix sign-ups skyrocketed in late 2023 after the platform introduced restrictions on sharing access to shared accounts. In December, the streaming giant reported an increase of 13.1 million subscriptions over three months. This is the best result in any quarter since 2020.
