Netflix Plans to Increase Prices Following End of Actors’ Strike

Netflix is set to increase the price of its ad-free subscription service once the Hollywood actors’ strike concludes, according to a report from the Wall Street Journal, which resulted in an over 3% rise in the company’s stock shares.

The streaming platform is considering price hikes across various global markets, with initial adjustments likely in the United States and Canada, as reported by sources familiar with the situation. Details regarding the specific amount of the price increase and the exact implementation timeline remain unclear at this time.

Netflix has refrained from making any comments regarding this development.

Ongoing negotiations between the SAG-AFTRA actors’ union and the Alliance of Motion Picture and Television Producers (AMPTP), which represents the studios, are in progress, with the next meeting scheduled for Wednesday.

Recently, the writers’ union reached a tentative agreement with the AMPTP after enduring five months of unsuccessful negotiations. Earlier this year, Netflix reduced subscription prices in certain countries and announced a plan to combat password sharing, which was implemented in over 100 countries by May.