The Big Picture Despair Netflix subscribers, for it has been mere months since you had to endure a price increase for your treasured subscription. Now though, industry analysts predict rates will increase yet again in 2024, Variety reports. The forthcoming wave of increased pricing comes amid the subscription giant canceling a total of 14 shows in 2023.
In a report, UBS analysts wrote of Netflix “We expect to see rate increases this year.” This news will be dreaded for Netflix subscribers who endured a price increase in October 2023. That increase saw users in the United States, the United Kingdom and France affected, with basic and premium plans going up from $9.99 to $11.99 and $19.99 to $22.99 respectively.
Netflix's Tough Act With Subscribers Has Yielded Results Close “As the objective in streaming shifts from subscriber growth to profitability for the traditional media companies, we see Netflix as the ultimate beneficiary of this industry rationalization,” the UBS report added. The report shows that Netflix has grown its share of U.S. TV Viewership from 7.7% in December 2023 to 7.9% in January 2024.
Be that as it may, from a consumer point of view as opposed to an industry insider one, the loss of fan favorite shows such as Shadow and Bone and Lockwood & Co. - one after two seasons the other after just one - will be difficult to take if prices continue to go up. However, it is not all doom and gloom for Netflix subscribers.
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