Netflix is reportedly planning to increase the price of its ad-free service once the Hollywood actors' strike ends.
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Netflix Set to Price Hike, Again
The Wall Street Journal reported that Netflix has been discussing the possibility of raising its service prices across the global market. One thing is for sure though, the rollout will begin first in the U.S. and Canada.
As of writing, Netflix declined to comment on the announcement. Moreover, there is no news yet as to how much will it increase and when the new prices will take effect. Meanwhile, the WSJ also reported that Netflix is just waiting for the Hollywood writers and actors' strike to end before announcing its price increase.
Netflix's last price increase was last January 2022. However, in November 2022 the dominant streaming platform stopped its basic $9.99 per month ad-free tier in the U.S. and replaced it with a $15.49 standard ad-free plan and a $6.99 ad-supported plan.
Streaming Services Launch Bundles to Boost Revenue
Within the year, several streaming service platforms have increased their subscription plans and have launched add-ons to their services. Netflix, Disney, and Warner Bros. Discovery are all leaning to promote ad-supported tiers to boost their revenue.
For instance, Disney offered Hulu with Live TV which gave ad-supported streaming for Hulu, Disney Plus, and ESPN Plus for $49.99 per month. Meanwhile, Apple TV+ is selling the Major League Soccer's MLS Season Pass as an add-on for $12.99 a month or $25 per season. Amazon is also set to release its new pricing tier for Prime Video.
For now, Netflix is still working on its password-sharing crackdown as a way to kick out freeloaders on accounts and bring back the revenue flow.
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