Despite earlier promises to the contrary, Netflix is planning to raise prices again after the Hollywood actors' strike ends, according to the Wall Street Journal.
In July 2023 when Netflix released its quarterly report for the second quarter of 2023, it stated that it had no plans for price increases in "major markets" for "more than a year" due to its crackdown on account sharing.
However, the Hollywood strikes have apparently caused Netflix to reconsider its plan. The Wall Street Journal reports that Netflix is planning to increase the price of its ad-free plans once the Hollywood actors' strike concludes.
Major markets including the US
The streaming service has internally discussed raising prices in several markets globally, starting with the US and Canada, according to the sources.
The exact amount by which Netflix plans to raise prices is not clear.
Currently, the company offers ad-free Standard and Premium plans priced at $15.50 and $20 per month, respectively. Only the Premium plan includes 4K, HDR10, Dolby Vision, and Dolby Atmos.
Netflix's most recent price increase occurred in early 2022.
- Source: WSJ
