Netflix Prepares to Increase Subscription Prices Again, Predict Analysts
Looking like another bump in your Netflix bill is on the horizon, according to analysts. Netflix might be set to jack up its streaming prices this year, as reported by Variety.
John Hodulik, UBS analyst, touched upon Netflix in a research note, stating, "We expect to see rate increases this year." UBS anticipates that the anticipated price hike and ad revenue could propel Netflix's revenue growth to a whopping 15% in 2024, nearly double what it was in 2023.
Not so long ago, Netflix upped the ante for its Basic plan, increasing it from $9.99 to $11.99. But it seems another price boost is looming. Netflix appears to be gunning for more bang for its buck from its existing subscribers.
The streaming giant tightened the screws on password sharing throughout 2023. As recently as last month, Netflix put an end to the Basic plan altogether in Canada and the U.K., leaving customers with the $15.49 Standard plan as the next wallet-friendly, ad-free option.
Despite the price hikes in the U.S. and abroad, Netflix subscribers seem to be holding tight. According to Co-CEO Greg Peters during Netflix's earnings call last month, "Those changes went well, better than we forecasted." Now, Netflix is testing the waters to see just how much it can bump up those prices.
UBS predicts healthy subscriber growth from Netflix this year, but the streaming world as a whole has been struggling to snag new customers. In 2023, subscriber growth slumped from 21.6% to 10.1% across streaming services, according to research firm Antenna. To stay afloat, many streamers are asking you to part ways with more cash or sit through ads.
UBS analysts see Netflix as the "main victor in the media's new game." Analysts believe that Netflix will be able to increase prices and retain subscribers more effectively than other streaming services due to its extensive premium library and dedicated fanbase.
The price hikes are just part of the new wave in streaming. For the past decade, Netflix has been focusing on growing its subscriber base as much as possible. But now, it's large enough to focus on becoming solidly profitable. And guess what that means for consumers? You got it – higher prices, more ads, and probably less original content from Netflix. The era of streaming golden goose Layens might be nearing its end.
[1] While specific information about a Netflix price increase in 2024 is not readily available, it's worth noting that Netflix has raised prices five times over the past decade, including one at the start of 2025.
[2] Over the years, streaming services, including Netflix, have been upping their prices to boost profits and contend with the intensifying competition in the market.
- According to UBS, Netflix might be set to raise its streaming prices not only in 2023 but also likely in 2024, potentially raising revenue growth by 15%.
- Despite the anticipated price hikes, Netflix subscribers have been holding tight, with Netflix testing the waters to see just how much it can increase those prices.
- UBS analysts see Netflix as more likely to effectively increase prices and retain subscribers compared to other streaming services, due to its extensive premium library and dedicated fanbase.
- Over the past decade, Netflix has raised its prices five times, including once at the start of 2025, indicating a pattern of price increases to boost profits and contend with market competition.
