While Netflix introduced paid account sharing options in 2021, it also partially withdrew the price increases it wanted to implement. According to Greg Peters, the company’s co-CEO, they backed away from these price increases because they viewed “paid sharing” as a form of price increase. Now a new Netflix price increase is on the agenda.
There will be another Netflix raise in 2024
However, now that these account sharing options are in effect, it is estimated that the next step will be a raise again.
“Now that we’ve gotten through this, we can continue with our standard approach to price increases,” Peters said during Netflix’s latest quarterly earnings presentation. And in fact, a research note by John Hodulik, a leading analyst at UBS Securities, predicts at least one Netflix price hike will come later this year.
UBS analysts further explain Netflix’s ‘New game plan’ as follows:
- price increases,
- Platform consolidation,
- Library curation (associated asset value decreases),
- Cuts to content spending (adjusting for declines due to strike in 2023)
- Refocusing on content licensing
Netflix’s last price increase came in January 2024, and the previous one in October 2023, following the end of the Hollywood writers’ strike. You can find the new prices below.
Increase for Netflix subscription price!
Netflix has decided to make an unexpected increase in subscription prices. Price increases ranging from 15 to 20 percent were applied for packages.
In short, according to analysts, another Netflix price hike will be inevitable in 2024. What are you thinking? What are your thoughts on current prices? Please don’t forget to share your thoughts with us in the comments section.