Sad news everyone. Netflix prices are set to rise according to analysts. We all flocked to the streaming service when the pandemic hit. With millions of us sat at home with nothing better to do, Netflix provided us with plenty of entertainment. Because of this, the company gained tons more subscribers – but at what cost? Could the popular service now be hiking their prices because of recent demand?
Recent reports are suggesting that Netflix prices could be increased soon, a shock to many as the company has recently been rolling out cheaper subscriptions. Analyst Alex Giaimo believes that subscription prices are going to rise in Europe and North America. Netflix is thinking of changing its pricing strategy according to Giaimo due to recent earnings…
Giaimo told Deadline this:
“After a change in language regarding pricing on the (second-quarter) call, we believe a potential hike is probable in the near to midterm. In Q1, Netflix said that they were ‘not even thinking about price increases,’ while the Q2 language was more open-ended”. The analyst predicts that subscriptions will be increased by $1-2, which could see Netflix’s revenue increase by another billion dollars by 2021! The Middle East and Africa are also said to be hit, which means Netflix users around the globe could be paying more.
With the recent news, people are finding it unfair to see Netflix increase their prices again, especially under the current economy. Around 26 million people signed up to Netflix over the past 6 months, and that number is only increasing. What makes matters worse, competition has heated up in 2020, with Disney+, Apple TV+, and HBO Max now offering services. If Netflix increases its prices, could it affect how much consumers can afford in the future?
What do you think about Netflix’s prices potentially increasing? Would you still pay the new price or would push you to try other services on offer currently? Why can’t we just be subscribed to one platform for one price?!