05 October 2023 , 23:06
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Users could be facing even higher bills every month as Netflix is rumored to be raising their subscription prices yet again after the SAG-AFTRA strike ends.
As customers of the popular streaming service already pay a whopping $20 per month to watch their favorite shows and movies they could be seeing another blow to their bank account in the coming months. The Wall Street Journal reported this week Netflix could raise prices after the actors strike come to a close with fees predicted to increase in both the U.S. and Canada followed by several global markets.
The news outlet, who was informed by anonymous sources, said that it is unclear when exactly the price increase would happen or by how much it would be raised. The company previously shared that they were already seeing a spike in profit as they recently began cracking down on users sharing their passwords and axing their basic plan option. As of now, users are also required to pay extra fee to add a non-household member onto their account.
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Netflix rumored to be raising their subscription prices again after increasing prices last year (Alexander Heinl/picture-alliance/dpa/AP Images)Last year Netflix raised their prices on customers across all of their plans. During this change Netflix increased their Standard ad-free subscription from $15.49 monthly to $19.99 monthly. The company then also added a $6.99 monthly subscription with advertisements but later removed the option altogether.
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Rumors that Netflix's prices could increase again comes as Hollywood moves to bring entertainment industry workers back after months of striking. Progress has already started as the Writers Guild of America (WGA) finally ended its 148-day strike on September 27th. In a statement, the WGA announced the new deal will last until May 2026 and includes a 5% minimum pay increase upon the ratification of the contract, stipulations on AI-generated material, and built a new negotiated residual with streaming services based on viewership.
Now, Hollywood is just waiting for the 2023 SAG-AFTRA strike to come to a close before film and television can go back to business as usual. The ongoing strike action began on July 14, 2023 and are still going strong after three months. Supporters went on strike over an ongoing labor dispute with the Alliance of Motion Picture and Television Producers.