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Did you cancel Netflix? If you didn’t, your prices might go up

Canceling Netflix means you might avoid a price hike.

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This Aug. 13, 2020, photo shows a logo for Netflix on a remote control in Portland, Ore.

This Aug. 13, 2020, photo shows a logo for Netflix on a remote control in Portland, Ore.

Jenny Kane, Associated Press

Netflix may soon raise its subscription prices in North America or Europe — but it doesn’t look like it’ll impact the company too much, Deadline reports.

What’s going on?

Alex Giaimo of Jefferies predicted that Netflix might raise its subscription prices in the near future.

  • The company made some “open-ended” remarks that suggest a price hike may be coming soon, Giaimo said, according to Deadline.
  • Netflix could increase its prices by $1 or $2 in North America, which would generate between $500 million and $1 billion in revenue, Deadline reports.
  • “We have confidence that Netflix can raise prices in international markets given its deepening content library and outsized consumer value proposition,” Giaimo wrote.

Raising prices amid controversy?

Netflix has been suffering from two rounds of controversy recently.

The first came after the movie “Cuties” debuted. The film has been likened to child pornography and promoted outrage from conservatives and lawmakers in the U.S., as I wrote for Deseret.com.

  • New data from 7Park Data revealed that Netflix saw a heavy increase in cancellations in the days after “Cuties” was released.

Senators also slammed Netflix for its “Three-Body Problem” adaptation from Chinese author Liu Cixin, who defended the Chinese Communist Party, USA Today reports.