The number and prices of digital content platforms are increasing every day. Nowadays, many of us are spending a considerable amount of money on services such as Netflix, Prime Video, Disney+, Spotify, and YouTube Premium. Moreover, it seems that this expenditure will be even higher in the coming years. This is because analysts predict that Netflix will raise streaming plan prices in 2024. Here are the details…
Analysts Expect Netflix Prices to Rise Again in 2024
According to some analyst reports, Netflix prices are expected to increase once again in 2024. If you live in a country with high inflation, like I do, this content may seem quite normal to you. However, we are not talking about countries such as Turkey, Argentina, or Venezuela; we are directly referring to North America and Europe prices.
As you may know, Netflix raised its prices in 2023, primarily in the United States and other countries. Although this move drew some user backlash, the company did not experience any significant loss. However, there are now claims that these prices will once again see an increase.
“We expect to see rate increases [from Netflix] this year,” UBS analyst John Hodulik said, pointing to the potential for a 15% revenue growth in 2024. Last October, Netflix raised the Basic plan’s price from $9.99 to $11.99 per month in the United States, alongside similar hikes in the UK and France.
Unfortunately, a price increase in these countries will affect users worldwide. Despite having a considerable user base, the company is struggling to generate profits. Therefore, it has been aiming to change the situation with such moves for some time. For instance, the account sharing restriction implemented last year is one of these strategic moves.
It is important to note, however, that this is an analyst prediction. There is still no official announcement regarding a price hike for Netflix in the U.S. or any other country. Nevertheless, predicting the next move of a billion-dollar company is not as difficult as you might think.
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