We could be paying even more for Netflix by the end of the year.
Wall Street analysts forecast that Netflix could likely hike its subscription prices in 2024, Variety reports.
The introduction of a cheaper pricing tier supported by ads and a growing subscriber base has analysts projecting a 15% revenue growth for the streaming platform in 2024.
Netflix is expected to hike prices on its streaming plans in 2024 — a move that should accelerate its revenue and earnings growth — as it continues to take a bigger bite out of overall TV viewing, according to analysts at UBS Securities. https://t.co/3G98Y9yAD8
— Variety (@Variety) February 27, 2024
Netflix raised the price of its basic tier last year and also cracked down on password sharing.
Netflix hasn’t announced specific plans to hike subscription prices in 2024, but execs have said rate increases are on the table.
“We will continue to monitor other countries and try and assess… when we’ve delivered enough additional entertainment value” CEO Greg Peter said on a company earnings call last month, “[to ask customers] to pay a bit more to keep that positive flywheel going and we can invest in more great films, series and games for those members.”
Tune in to World Wide Reb, weekday mornings at 8.10am on 98FM's Big Breakfast for all the latest entertainment news 🎬
