Netflix is reportedly planning to raise the prices of its ad-free streaming plans after the ongoing Hollywood actors’ strike ends. The company is discussing raising prices in several markets globally, but it will likely begin with the United States and Canada. The exact amount of the price increase and when it will take effect is not yet clear. Netflix cut prices of its subscription plans in some countries in February, and in the same month, it laid out a plan to crack down on password sharing by subscribers that was rolled out in over 100 countries in May. The company plans to announce the price increases “a few months after” the Hollywood actors’ strike officially comes to a close.
Netflix’s decision to raise prices is not surprising, as the company has done so in the past. However, the timing of the price increase is interesting, as it is linked to the ongoing Hollywood actors’ strike. The strike has been ongoing for several months, and it has affected the production of many TV shows and movies. The strike has also affected the streaming industry, as many actors are refusing to work on projects that are being produced by streaming services.
In conclusion, Netflix’s decision to raise prices is not unexpected, but the timing of the price increase is linked to the ongoing Hollywood actors’ strike. It remains to be seen how much the price increase will be and when it will take effect.
Source: WSJ
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