Netflix risks announcing more bad news in 2024. The SVOD platform is on track to increasingly demand the bank accounts of its subscribers.
It will be a very rich year for Netflix in terms of content, and it has already got off to a strong start with one of the biggest series of 2024, but which ultimately turns out to be more disappointing than expected. The video streaming service will continue its momentum, putting new premium exclusives online in March, to attract even more subscribers. But also to try as much as possible to keep those who remained, despite successive price increases.
Another increase in Netflix prices for 2024
Netflix is still in a perpetual quest for profitability, even 10 years after its launch. This consumption model is far from being the most stable, and to achieve its goals, the firm has already put in place a measurement series. The most used is the direct price increase and the last one is very recent since it only dates back to October 2023. Now, the most expensive offer costs €19.99 to have access to films and series in 4K. Too expensive ? Expect the worst. It is via Variety that we learn that a change could still occur.
According to the analyst firm USB Securities, there is no doubt that an increase is being prepared behind the scenes. “We expect Netflix to raise prices this year”. Combined with advertising revenue, this should allow the platform to go from growth of 7% in 2023 to 15% in 2024. A true analysis? It seems so.
A few weeks ago, Netflix presented its financial results and clearly left the door open to an increase in prices. “We put price increases aside while we rolled out paid account sharing. And this because we considered that it was already a form of increase” said Greg Peters, CEO of Netflix. In the second part of the speech, he emphasizes this even more.
Now that we have this in place (note: paid account sharing), we are ready to return to our standard approach to price increases. We will continue to monitor the situation in each country and assess when we have enough added value in content to ask customers to pay a little more. And this with the aim of maintaining this positive dynamic and allowing us to invest in other quality films, series and games for our subscribers.
Via Variety.
The sixth price increase at Netflix in 2024 seems, unfortunately for subscribers, to be well underway.