Netflix is planning to raise the price on its ad-free subscription service a few months after the current Hollywood actor strike finishes, according to the Wall Street Journal on Tuesday.
The WSJ reports that Netflix is considering raising prices in several markets across the globe, though it could begin with the U.S. or Canada.
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While no information was provided on how much those prices will increase or when they will take effect, the company expects to wait until the ongoing actor strikes end before going ahead with those increases, the WSJ states.
Members of the Screen Actors Guild-American Federation of Radio and Television Artists (SAG-AFTRA) began their strike back in July, protesting certain video game companies over concerns involving wages, artificial intelligence and workplace safety.
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An article by the WSJ says that Netflix was the only major streaming service to not raise its prices over the past year, with the most recent happening in January 2022.
Netflix stopped offering its $9.99/month ad-free tier in the U.S. back in July, meaning the streaming service now has an ad-supported plan for $6.99/month and a standard ad-free plan at $15.49/month.
Netflix isn’t the only streaming service planning to change prices, though.
On Oct. 12, Disney+ will increase its premium ad-free plan to $13.99/month (up from $10.99), and Hulu’s ad-free plan will jump to $17.99/month (up from $14.99). Meanwhile, Amazon Prime Video is charging customers $2.99 for a new ad-free tier starting next year, with the basic Prime Video service to include ads.
Last year, Netflix cracked down on practices like password sharing in an effort to prop up the streaming service’s revenue. Despite the attempt to improve sales, the company saw a loss of 200,000 subscribers soon after the measures were implemented.
However, Netflix saw a large influx of millions of subscribers earlier this year, indicating that the crackdown may be paying off.
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