Netflix May Raise Its Subscription Prices Soon
According to a Wall Street analyst.
New rumors suggest that Netflix‘s subscription fee may rise in the near future. According to notes obtained from Wall Street analyst Alex Giaimo, “After a change in language regarding pricing on the (second-quarter) call, we believe a potential hike is probable in the near to midterm.”
Deadline, who released the details of these notes, say “In Q1, Netflix said that they were ‘not even thinking about price increases,’ while the Q2 language was more open-ended.” Rumors indicate that although the streaming service is looking to increase its monthly price, it won’t be by much. If the current price only increased a dollar or two a month, it would generate almost $500 million USD to $1 billion USD for its revenue in 2021. Giaimo expects Europe, the Middle East, and Africa to get hit with the raised prices.
Many point to the ongoing streaming wars for Netflix’s new interest in raising prices, alongside Netflix’s penchant for securing big Hollywood names for its content.
In other entertainment news, Netflix has released the first trailer for Transformers: War for Cybertron – Earthrise.
