Do you like streaming on Netflix? Analysts say that its price subscriptions might get more expensive this year.
According to Wall Street analysts, Netflix might raise the prices of its streaming service, first reported by Variety.
UBS analyst John Hodulik says they expect the price hike and ad revenue to push the streaming service’s revenue growth to 15% in 2024, doubling the numbers from 2023.
A few months ago, Netflix increased its Basic plan price from USD 9.99 to USD 11.99 (AED 36.69 to AED 44), but it seems the company wants to extract more value from its current subscribers.
Last year, the streamer became more strict on password sharing. It also discontinued its Basic plan in Canada and the UK recently, forcing customers to pay the USD 15.49 (AED 56) Standard plan, the next cheapest ad-free option.
Nevertheless, subscribers are still clinging to Netflix’s streaming services amid the price hike.
So far, subscribers have not been leaving Netflix due to price increases in the U.S. and overseas.
