Having conquered the world of streaming, Netflix has millions of fans worldwide, with free access to numerous movies, TV shows, and documentaries. However, considering that Netflix is also facing competition and changing its content strategy, it is high time to ask the following question: Is Netflix still providing the proper value for the money in 2024?
According to various analyses, the company will have 238.3 million subscribers worldwide by the end of 2024. There are new challenges, such as the new rules for sharing passwords and the increased competition from platforms such as Disney+ and Amazon Prime Video. Yet, Netflix subscriptions have been able to achieve important growth. It achieved its highest revenue year in 2023, of $33.7 billion. The greatest focus is still on North America, from where it has obtained a significant share of its revenues – $14 billion in 2023.
Indeed, one of the factors Netflix prides itself on is its content library, which is wide and continually expanding. Thus, in 2024, it continues to produce new original content, regularly putting out critically acclaimed programs and films.
Such series as Stranger Things, The Crown, and even Bridgerton have brought the company a reputation and engaged the viewers. It is also making giant strides in the film industry, with a couple of its productions being nominated for major Oscars. One area is the investment in content, and getting licensed content has allowed it to remain keenly competitive – it now boasts one of the world’s largest movie libraries.
Furthermore, Netflix Entertainment Value has sought to launch subscriber tariff packages with advertisements, hoping that users who prefer paying low amounts would subscribe. This forms its plan for diversification in growth models, especially targeting the subscription’s slow growth in some areas.
Netflix subscription fees have risen over time, currently, users are charged $16.64 for their regular subscription. For consumers in the U.S. and Canada, the average monthly fee is a few dollars higher, namely $17.06. This can be a put-off for other potential subscribers especially when there are other more attractive offers available on other platforms. However, the value is in Netflix’s library and the company’s unbroken progress in accumulating great content.
Yes, Netflix is worth it and will still be a popular choice in 2024. Nowadays, people of multiple age groups and regions are watching Netflix every day! There is a lot of positive feedback on this platform from around the globe. The quality is good, and there’s always something new. They’ve also added cheaper plans with ads. Plus, they focus on content from different countries.
There are many other streaming services now, so it’s good to think about whether Netflix has what you like. By now, you know all of Netflix's pros and cons. You also have to consider how much money you wish to invest. Some people think it’s worth the money, while others don’t.