Netflix is reportedly planning to increase the prices of its ad-free subscription plans in the United States and Canada, following the conclusion of the Hollywood actors strike, reported by The Wall Street Journal. The exact amount of the price hike remains undisclosed at this time.
The last time Netflix adjusted its pricing was at the beginning of 2022 when they offered a Basic plan for $9.99 per month, a Standard plan for $15.49 per month, and a Premium plan for $19.99 per month. However, since then, they have phased out the Basic plan and introduced a Standard plan with ads priced at $6.99 per month. Additionally, Netflix has discontinued multi-household sharing, requiring users to reside in the same location to share a Netflix plan, with an additional cost for additional member slots.
This move by Netflix aligns with a trend in the streaming industry, where several platforms have been raising their prices. For example, ad-free Disney+ streaming is set to increase to $13.99 per month, and ad-free Hulu will soon be priced at $17.99 per month following recent price hikes. The specific timing of Netflix's price increase has yet to be announced.
Overall, Netflix's decision to raise prices in the wake of the Hollywood actors strike is in line with broader industry trends, as streaming services adapt to changing market dynamics and content costs.
