Tension may increase for Netflix users! Subscription plans will soon become expensive, this is the big reason behind it

If you are a Netflix user then there is good news for you. If the new report is to be believed, the company may increase the prices of its subscription plans very soon. Subscription plan prices may be increased later this year or early next year.

The company will first increase it in the United States and Canada and then increase the prices of the plan in India. Let us tell you, only last year Netflix increased the prices of the plans in these markets.

There was no price increase in the Indian market, but Netflix banned password sharing. The streaming giant recently stopped sharing passwords in India and confirmed that it will start sending notifications to users to stop sharing accounts with friends or face strict action.

Initially, when Netflix announced its idea to end password sharing across all markets, there was no mention of India, but it happened in the country. We will have to wait for a few months to know more about it. Netflix has not given any official information on this matter.

After Netflix ended password sharing in some countries, the company added a lot of new customers. It has recently recorded significant subscriber growth after a crackdown on account sharing. During the second quarter of 2023, Netflix added nearly 6 million paying subscribers. This is an increase of approximately 8 percent.

"Building an advertising business from the ground up is no easy task and we have a lot of hard work ahead of us, but we are confident that over time we can grow advertising into a multi-billion dollar incremental revenue stream," Netflix said in a letter to shareholders.

Baines estimates that Netflix will generate $770 million in advertising revenue in the US this year and more than $1 billion by 2024. Baines said that as Netflix's focus on password sharing increases, the pressure to increase advertising revenue will also increase.