Netflix has plans to raise its ad-free streaming plan prices in “a few months” after the SAG-AFTRA actors strike ends.
The streaming service is “discussing” raising prices in “several markets globally” and will likely increase fees in the U.S. and Canada, according to a Wall Street Journal report. Specific prices have yet to be revealed and Netflix declined to comment.
Netflix is set to raise its subscription prices again soon.
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Last week, the Writers Guild of America (WGA) ended its strike and began voting on a contract with major Hollywood studios that could change the business of streaming.
Under this new contract, Netflix, alongside Disney Plus, Hulu and other streaming services will not have to share streaming data with the WGA, allowing writers to see how well their content is performing. According to the WGA, the cost of their new contract will amount to just .2 percent of Netflix’s annual revenue.
Netflix recently increased prices in the U.S. and other major markets in the first half of 2022. Over the past year, Netflix has taken other measures to get more money, asking households to pay a new monthly fed to share their account with others.
In the United States, Netflix has made significant changes to its subscription plans. Presently, the United States Standard plan, which allows for two concurrent streams and is free from advertisements, is priced at $15.49/month. Meanwhile, the Premium tier, which provides access to four streams, comes at a cost of $19.99/month.
During the summer, Netflix eliminated its Basic tier, which previously cost $9.99/month, in both the U.S. and several other markets. This strategic move was aimed at encouraging customers to opt for either the $6.99/month ad-supported plan or the higher-priced tiers, as the company sought to refine its offerings and attract a wider audience.
Multiple other streaming services have been hiking their prices in the past few months including Disney, Disney+, Hulu and ESPN+ in the U.S. Amazon is also adding a new pricing tier for its Prime Video service.
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