Netflix Plans To Raise Prices After SAG-AFTRA Strike Ends - Report
Netflix will increase the price of the ad-free service after the actor's strike comes to an end.
It appears that Netflix is heading towards another price hike once a SAG-AFTRA deal is finalized. The Wall Street Journal reported that the streaming juggernaut is planning to raise the price of its ad-free service after the ongoing Hollywood actors' strike ends.
Netflix is discussing raising prices in several markets globally, but will likely begin with the United States and Canada, the WSJ reported, citing people familiar with the matter. It was not immediately clear how much Netflix will raise prices or when exactly the new prices will take effect, according to the report. It's also uncertain if other online streaming services will follow suit.
The current Netflix prices are as follows: Standard with ads: $6.99/month; Standard ad-free: $15.49/month (extra member slots can be added for $7.99 each/month); Premium: $19.99/month (extra member slots can be added for $7.99 each/month).
SAG-AFTRA has been on strike since mid-July and it remains uncertain when it will end. Actors resumed negotiations with the Alliance of Motion Picture and Television Producers (AMPTP) on Monday this week and will continue on Wednesday.
The writers' union struck a tentative deal with the AMPTP last week after five months of negotiations. Netflix cut the prices of its subscription plans in some countries in February. 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.