Netflix raised the price of its ads-free subscription last year and the streaming giant is planning to do it again. According to a report, it will raise the price of the service after the ongoing Hollywood actors‘ strike ends.
As per a report by Wall Street Journal (via news agency Reuters), Netflix is discussing raising prices in several markets globally. The price rise, however, will first be introduced in the US and Canada.
There is no immediate information how much Netflix will raise prices by or when exactly the new prices will take effect.
Notably, Netflix raised prices across all of its plans last year in the US with Standard tier costing $15.49 a month and the Premium plan costing $19.99 per month. The company also rolled out a $6.99 a month ad-supported plan.
Actors’ strike in the US
The report comes a few days ahead of the next meeting between the SAG-AFTRA actors’ union and the Alliance of Motion Picture and Television Producers (AMPTP), which represents the studios. The groups are to meet on Wednesday.
The writers’ union struck a tentative deal with the AMPTP last week after five months of failed negotiations, the report highlighted. Hollywood writers are striking in a row over pay and the use of AI in the industry.
As a result of the strike, projects like Stranger Things and the Last of Us have been paused as well as release of some films have been postponed.
The Writers Guild of America (WGA) ended its strike last week and began voting on a contract with major Hollywood studios, including Netflix.
Netflix cut prices of its subscription plans in some countries in February and announced plans to crack down on password sharing by subscribers in the same month.