The monthly price for a Netflix subscription might be going up. The streaming service is likely to be upping its cost for users but not by very much. The year has been a big one for the platform as movie theaters have shuddered and many have turned to Netflix for new content which they can watch safely from their own homes.
As Netflix continues to spend big money on productions with some of the biggest names in film, the product will be slightly more expensive to support those big expenditures. Originally, Netflix seemed to have no interest in upping its price but now its tune is changing.
If the subscription price were to increase by merely $1 or $2 per month across North America or Europe, this could produce a $500 million to $1 billion increase in revenue for fiscal 2021. The “most likely” areas to be hit with a slight increase in price, according to Giaimo, are Europe, Middle East, and Africa. This is expected to add “$700 million to 2021 revenue.”