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Netflix will wait until Hollywood strikes end to hike streaming prices

Credit: David Balev/Unsplash

After a prolonged strike by Hollywood actors, Netflix is considering raising the price for its ad-free streaming service, falling in line with recent price changes among the top streaming platforms across the country.

Ad-free streaming services have become 25% more expensive in the last year, as the entertainment industry aims to boost profitability and attract budget-conscious customers to their ad-supported subscription plans.

According to The Wall Street Journal Netflix plans to postpone the impending price hike until the conclusion of both the Hollywood writer and actor strikes. The Writers Guild of America recently announced a tentative agreement with studios, and the Screen Actors Guild, which initiated a strike in July, has resumed negotiations with Hollywood studios this week.

According to people familiar with the matter, there are talks about potential price increases happening in different countries around the world. However, it seems like the first changes might happen in the USA and Canada.

There is no specific information yet about how much prices will go up or when exactly these changes will happen.

Netflix recently discontinued its basic $9.99 per month plan without ads in the United States in July. Subscribers currently pay $15.49 for standard plan without ads and $6.99 for an add supported tier, which was launched in November 2022.

Other streaming platforms are also experimenting with new pricing structures that focus on offering exclusive content, such as live sports, without jeopardizing their existing subscriber base.