"They have no shame"- Fans lash out as Netflix reveals plans to hike prices, again

After some controversial decisions from the streaming giants throughout 2023, which saw it receive a fair share of backlash, Netflix is expected to hike prices on its streaming plans in 2024 once again to accelerate its revenue generation. The news comes from analysts at UBS Securities, as reported by Variety earlier today.

UBS analysts led by John Hodulik write in a research note on February 27:

"We expect to see rate increases this year."

According to analysts, Netflix is expected to boost its profit by up to 15% in 2024, compared with 7% in 2023. This is partly due to its aggressive efforts to stop password sharing and increase its number of subscribers.

A tweet reply to DF's post about price increases (Image via X)

This news has obviously shaken social media platforms quickly as many fans came out to protest Netflix once again, much like they had done during the previous controversial chain of events.

Fans call out Netflix for continuously increasing prices

DF's post about price increases (Image via X)

Netflix has been the leading service in the streaming era, often spearheading some radical changes. But over time, the streaming giant has also often gone against the wishes of its subscribers. Yet, it remains one of the highest-subscribed mediums on the internet.

But from the past year on, there has been growing discontent over the streaming platform's methods to increase profits, which included a controversial password-sharing law that has inhibited a lot of features and multiple price increases. The password-sharing law was also initially very flawed, resulting in a massive uproar at one point.

The company last increased the Basic plan price from $9.99 to $11.99 per month in the U.S. in October. It also changed the prices in various other regions of the world, including the U.K. and France.

If the attitude towards Netflix keeps turning sour, the streaming platform may start losing viewers, though it hasn't happened yet.

As of now, no details of the probable price hike have been revealed, and it will be some time before it is.

About the author

Sourav is an entertainment writer at SK POP, who is informed by his Bachelor's degree in Mass Communication and Master's degree in Film Studies. Having penned scripts in the television and OTT, he has valuable experience and expertise that lay a strong foundation for his journey in the world of popular culture.

Sourav strives to produce accurate and informative articles and does so by looking for relevant and verified sources. He also enjoys writing explainers and features so he can give readers an in-depth understanding of the topic at hand while steering clear of misinformation.

Sourav admires Martin Scorsese and attributes his work to his affinity for cinema. He also looks up to Bob Dylan and appreciates the honesty with which he pens lyrics while combining the same with a social message. He is also a fan of Jimmy Page's skills as a guitarist.

If he could travel back in time, he would love to attend the 1969 Woodstock Music and Art Fair to experience its magic in person. When he's not busy writing and researching about the latest developments in the industry, he plays the guitar and composes music. He enjoys watching art films and TV shows and also immerses himself in poetry. He additionally loves football and tries to carve out some time at least twice a week for a game.

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Edited by Ankush Singh