According to analysts, Netflix could be, once again, raising the prices for their subscription service, which is sure to annoy customers – although nothing has been confirmed at the time of this writing.
While Netflix has some fantastic content, the company is also known for raising their prices every few years. What once was an simple, flat $8 subscription fee here in the United States can now range anywhere from $9 for the most basic membership to $16 for a premium membership.
Because of this, it’s unreasonable to assume the company would stop raising prices now, especially when Netflix is as popular as ever – and, just like always, consumers will more than likely be ok with it. Now, it seems like we might be on the cusp of yet another increase, according to one analyst and Deadline.
Alex Giaimo, the Vice President of Jefferies (an investment bank and financial services company) said that there’s been a recent change internally at the streaming company about whether or not to increase prices. According to Giaimo, Netflix is now considering a price increase, although the details of this are unclear.
Giaimo says that he thinks the price jump will most likely hit Europe and will be an increase of $1 to $2 a month. That being said, an increase in America is not out of the question either, and it’s currently unclear if there’s a possibility of both areas of the world being affected.
The one unknown in all of this is the timing. While Giaimo says that the increase will probably happen in the “near to midterm,” it’s unknown exactly what that means. Could we be seeing an announcement within the next few weeks or the next few months? It’s all up in the air.
Netflix Price Hike Is “Probable” Soon, But It Won’t Slow Company’s Roll, Analyst Says https://t.co/0JhyJzvxKk
— Deadline Hollywood (@DEADLINE) September 28, 2020
The last price increase for the company came in early 2019, so it hasn’t exactly been a while since then.
Under normal circumstances, a price increase would probably not cause a major problem; the current state of the world means that families are pinching pennies, and they may not be so keen on keeping the service around if they start charging more.
It’ll be interesting to see what happens in the months to come.