The streaming service seems to be more indispensable than it was before the crisis.
© Unsplash / Mollie Sivaram
Would you be willing to pay more to watch Netflix ? Just look at the many controversies which are due to increases in the streaming service to see that the subject is not consensus. However, many subscribers seem to be really willing to accept a rate increase.
It is in any case what emerges from a survey by analysts Cowen & Co survey of 2500 u.s. consumers. Their conclusion is clear since the share of customers of Netflix willing to pay more, up from 47 % in December 2019 to 55 % in may 2020. It increases even more for the subscribers who watch more than seven hours of content per week and now stands at 60 % against 52 % at the end of last year.
The crisis is already there, but Netflix can see it coming
According to experts, this development is actually quite logical. The containment, which has forced many people to remain at home, makes the use of Netflix even more essential than before.
There is no indication so far that the streaming service has planned to increase its prices in the year 2020. This represents, however, a good news for the company and demonstrates the commitment of its customers.
The platform will, however, be careful for the future. It is faced with serious opponents with services such as Disney+, HBO, Max, or Apple TV+. This multiplication of offerings poses a real problem. Consumers want to in fact try the whole set of services and have therefore taken the habit to take advantage of free trials before you cancel their subscriptions.
In addition, the crisis is already here and in a previous survey that we relayions a couple of weeks ago, 39 % of u.s. consumers have declared a reduction in income. In this context very complicated the fight promises to be very bitter, but Netflix will be able to draw on his popularity, and his catalogue is very rich to convince its subscribers to stay.