NFLX - Where Will Netflix Be in 2 Years?
2023-08-24 06:05:00 ET
Netflix (NASDAQ: NFLX) has had something of a comeback year. After losing subscribers in fiscal 2022, the company made significant strategy adjustments and, as a result, has seen both its customer numbers and stock price climb. But where might Netflix and its shares go over the next two years? Let's break it down.
There's no escaping it; the cost of subscription video-on-demand (SVOD) services is going up. Netflix, Comcast's Peacock, Apple's Apple TV+, Paramount Global , and Walt Disney's Disney+ have all seen fee increases within the last year -- or will in the coming months.
According to an S&P Global Market Intelligence report, U.S. households are spending on average about $30 a month on SVOD platforms, which is close to double the amount they were spending in 2018. And considering a Deloitte study earlier this year showed an annual increase in streaming churn rates -- in part because of higher costs -- it's likely that trend will continue for a while yet.
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Where Will Netflix Be in 2 Years?