Report: Netflix Poised To Raise Prices Again

Netflix changed the game by becoming a streaming juggernaut for movies and TV shows. Now, the company is positioning itself to raise its monthly fee once again.

That’s according to Variety, which reports that the streaming service is circling its wagons in pursuit of profits. Netflix last raised its prices in October 2023, when the service jumped to $11.99 for its basic plan.

Variety cites Netflix’s Q$ 2023 earnings call, in which Netflix co-CEO Greg Peters posited that the U.S. audience may not be averse to a price increase with more offerings.

“We will continue to monitor other countries and try and assess,” Peters said on the call, “when we’ve delivered enough additional entertainment value” to “ask [customers] to pay a bit more to keep that positive flywheel going and we can invest in more great films, series and games for those members. So, you know, the summary statement might be, ‘Back to business as usual.’”

Netflix remains #1 in market share when it comes to streaming services in the United States. Among the reasons why include:

Original Content and Variety

Netflix offers a wide range of content, including movies, TV shows, documentaries, and original series, catering to a broad audience with diverse interests.

Netflix has invested heavily in producing original content, which has received critical acclaim and attracted a large viewership. Shows like “Stranger Things,” “The Crown,” and “Narcos” have become hugely popular worldwide.

User Experience and Convenience

Netflix allows users to stream content anytime, anywhere, on a variety of devices, making it convenient for people to watch their favorite shows and movies without having to adhere to a traditional TV schedule.

Netflix provides a user-friendly interface that recommends content based on a user’s viewing history, making it easier for viewers to discover new shows and movies they might enjoy.