By Netflix is expected to once again raise its prices this year on its streaming plans in a bid to accelerate revenue and earnings growth.
That’s the assessment from analysts at UBS Securities who, in a research note released today, says: “We expect to see rate increases this year”.
Combined with an increase in revenue from its ad-supported tier, and subscriber gains, it’s estimated that Netflix’s total revenue growth in 2024 will be 15% per analyst estimates – up from 7% last year.
Netflix’s last price hike was in October when its basic plan went from $9.99 to $11.99 in the United States. U.K. and France also saw price increases at the time. The streamer hasn’t announced any specific plans to increase subscription prices in 2024.
UBS says structural changes in the streaming space recently are benefitting Netflix. From platform consolidation and content spending cuts, to a renewed interest in licensing – Netflix will reportedly benefit from studios shifting importance from subscriber growth to profitability.
Netflix added 29.5 million net new subscribers in 2023.
Source: Variety
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