In a recent report, Netflix has revealed its intention to raise the prices of its streaming plans in the wake of the SAG-AFTRA actors strike, which is expected to be resolved in the coming months.
While specific details regarding the price hikes remain undisclosed, the streaming giant is said to be in discussions about implementing these changes in several global markets, with initial increases expected in the United States and Canada. However, no official date for the price adjustments has been confirmed.
The current pricing structure in the U.S. offers a Standard plan with two streams and no ads for $15.49 per month, while the Premium tier, allowing four streams, costs $19.99 per month.
Earlier this year, Netflix eliminated its Basic tier without ads, priced at $9.99 per month, in favor of promoting its $6.99 per month ad-supported plan and higher-priced tiers.
Netflix has previously stated that any price increases in major markets, such as the U.S., were expected to be more than a year away. The company had paused such hikes after introducing a paid-sharing program in May 2023, aimed at monetizing password-sharing users. According to Netflix CFO Spence Neumann, this program has been the primary driver of revenue growth for the year.
The news of Netflix’s impending price hike follows a trend in the streaming industry, where several other services have recently increased their prices to better reflect their offerings.
Disney, NBCUniversal, Paramount Global, and Warner Bros. Discovery have all announced price adjustments in response to changing market dynamics, as they seek to balance content quality and affordability for their subscribers.