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After a lengthy strike by Hollywood actors, Netflix is considering raising prices for its ad-free streaming service, which is in line with recent price changes on leading streaming platforms across the country.
Ad-free streaming services have become 25% more expensive over the past year as the entertainment industry looks to boost profitability and attract budget-conscious customers to ad-supported subscription plans.
Netflix plans to delay upcoming price increases until after strikes by Hollywood writers and actors, according to The Wall Street Journal. The Writers Guild of America recently announced a tentative agreement with the studios, and the Screen Actors Guild, which went on strike in July, resumed negotiations with Hollywood studios this week.
According to people familiar with the situation, there is talk about a possible increase in prices in different countries of the world. However, it looks like the first changes may be coming in the US and Canada.
There is no specific information yet on how much prices will increase and when exactly these changes will occur.
Netflix recently discontinued its $9.99/month ad-free basic plan in the US in July. Subscribers currently pay $15.49 for the standard ad-free plan and $6.99 for the additional support tier, which launched in November 2022.
Other streaming platforms are also experimenting with new pricing structures aimed at offering exclusive content, such as live sports, without compromising their existing subscriber base.