Analysts at Oppenheimer anticipate that Netflix’s (NASDAQ:NFLX) various strategies, which include implementing stricter password sharing rules, introducing ad-supported tiers, and fine-tuning subscription plans, will drive the company’s revenue growth throughout the year. Despite increasing competition, Netflix maintains its position as the leading streaming service, securing a substantial share of the U.S. television viewership.

Oppenheimer underscores Netflix’s sustained supremacy, owing to its unrivaled ability to produce highly engaging content and superior content monetization strategies compared to its competitors. Consequently, Oppenheimer has increased its price target for Netflix from $615 to $725. The firm anticipates a 4% yearly increase in average revenue per membership in 2024, spurred by recent price increases for its basic and premium plans in markets such as the U.S., U.K., and France. This pricing strategy led to a revenue increase to $8.8 billion in the previous quarter.

Moreover, Oppenheimer predicts that Netflix will exceed Wall Street’s expectations for net subscriber growth by 31% in the next three years, further solidifying its position in the streaming industry.