The Wall Street Journal reported on Tuesday that Netflix is preparing to increase the cost of its ad-free subscription once the current Hollywood actors’ strike is over. This news caused the streaming company’s shares to increase by more than 3%.
NETFLIX PLANS TO RAISE PRICES AFTER ACTORS STRIKE ENDS – WSJ
Netflix is planning to raise the price of its ad-free service after the on-going Hollywood actors strike ends, the Wall Street Journal reported on Tuesday. pic.twitter.com/OtS9cw2kJ2
— FXHedge (@Fxhedgers) October 4, 2023
According to the WSJ, which cited people familiar with the situation, Netflix is talking about boosting rates in a number of international regions, although it will probably start with those in the US and Canada.
According to the article, it was not immediately apparent how much Netflix would boost its fees or exactly when the new costs would go into effect.
Netflix chose not to respond to the report.
The Alliance of Motion Picture and Television Producers (AMPTP), which represents the studios, and the SAG-AFTRA actors union are currently in negotiations. Their upcoming meeting is on Wednesday.
After five months of unsuccessful discussions, the writers’ union and the AMPTP finally reached a draft agreement last week.
In several regions, Netflix’s membership plan costs were reduced in February. It unveiled a strategy to cut down on subscriber password sharing in the same month, which was implemented in more than 100 nations in May.
