On the heels of price increases at Disney+, Peacock and Paramount+, Netflix is seemingly about to raise its rates as well.
The Wall Street Journal reports that Netflix plans to increase the price of its ad-free service at the conclusion of the actors’ strike, with the U.S. and Canada expected to be the first markets affected.
Netflix’s ad-free model currently costs subscribers $15.49 per month ($23.48 if they opt to share their password with another member). That’s already substantially higher than the $8 the company charged in 2019.
The amount Netflix might raise prices was not disclosed.
Streaming services, across the board, have been raising prices, including Warner Bros. Discovery’s announcement on Tuesday that the cost of Discovery+ would jump from $6.99 per month to $8.99 per month for ad-free subscribers.
Still, with Netflix so prominent in the negotiations with SAG-AFTRA, the actor’s union, as well as with the Writer’s Guild of America, which recently reached an agreement with studios, the timing of this increase could cause some consumer ill will.
Netflix, earlier this year, did away with its $10 Basic ad-free tier. And months before that, the company began to crack down on password sharing. Netflix is in the midst of a push to increase its revenues and subscriptions after they began to taper off at the end of the pandemic.
The push has worked, though. Netflix began its enforcement of no password sharing on May 23. Nearly 100,000 people signed up for accounts on both May 26 and May 27, according to data from third-party analyst Antenna.
Ad-supported subscription prices are not expected to be adjusted after the actor’s strike ends.
