Netflix is reportedly gearing up for a subscription price increase in the near future, with expectations that the hike could occur later this year or early next year. Information from The Wall Street Journal indicates that this streaming giant plans to adjust prices in various global markets, with initial attention on the United States and Canada. While there is no specific mention of India, the intention is to implement similar increases worldwide.
Notably, Netflix had raised prices in these markets just last year and appears to be considering another adjustment. In India, there hasn’t been a recent subscription cost increase, but Netflix has enforced measures against password sharing, sending notifications to users to discourage account sharing with friends.
The exact extent of the impending price increase remains undisclosed, with Netflix refraining from official comments. Despite its recent crackdown on password sharing in some regions, the streaming service experienced significant growth in subscribers during the second quarter of 2023, adding nearly 6 million paying subscribers, marking an approximate 8 percent increase.
Netflix’s strategy of discouraging password sharing led to more users creating individual accounts, and the low cancellation rate suggests that many users are complying with the new policy while opting for personal subscriptions. However, the prospect of another price hike so soon after the previous one may be met with disappointment among subscribers. Speculation surrounds the possibility of price increases for ad-free plans in select markets, but for precise details, everyone will have to wait a few more months to hear Netflix’s official plans.
