Netflix t Raise Prices After Hollywood Actors Strike Resolution
Netflix is on the brink of another price hike, initially targeting the United States and Canada. This development follows Netflix’s previous price increase just over a year ago and the discontinuation of its “Basic” plan a few months ago.
In March 2022, Netflix raised its subscription prices: the “Basic” plan went from $8.99 to $9.99, the “Standard” plan from $13.99 to $15.49, and the “Premium” plan from $17.99 to $19.99 per month. Several months later, Netflix introduced its first ad-supported tier priced at $7 per month.
Fast forward to June 2023, and Netflix quietly removed the “Basic” plan, effectively compelling users to pay $15.49 for an ad-free experience, eliminating the most affordable ad-free option.
Now, with the ongoing Hollywood actors strike, The Wall Street Journal reports that Netflix intends to announce another round of price increases “a few months after” the strike concludes. While the exact increase remains undisclosed, it will initiate in the United States and Canada, with plans for similar adjustments in other global markets.
As part of the tentative agreement between the Writers Guild of America and Hollywood studios, significant minimum pay raises, safeguards against AI tool use, compensation, and guarantees for writers in pre-development stages were secured. This agreement also includes a new bonus structure, ensuring writers receive bonuses for their most popular shows.
User Comment by John Atkinson:
“Netflix’s frequent show cancellations after significant investments make it hard to commit. I can’t trust investing in a series that may get canceled abruptly, so I’ve stopped watching Netflix.”
Streaming services are becoming pricier and simultaneously tackling password sharing. Last month, Disney announced its intention to curb password sharing, akin to Netflix’s recent efforts.
Disney+ and Hulu are also set to become more expensive starting next week:
- Disney+ with ads: $7.99 per month (no change)
- Disney+ ad-free: $13.99 per month (up from $10.99 per month)
- Hulu with ads: $7.99 per month (no change)
- Hulu ad-free: $17.99 per month (up from $14.99 per month)
How much are you willing to pay for Netflix? Or will these impending price hikes lead to your cancellation? Share your thoughts in the comments.