The 'streaming giant' Netflix is expected to raise subscription fees after the ongoing Hollywood actors' strike ends, the Wall Street Journal (WSJ) reported on the 3rd (local time).
According to sources, Netflix plans to increase the monthly subscription fee for its ad-free plans in major markets worldwide, starting with the United States and Canada. However, the timing of the new subscription fee implementation and the specific amount of the increase have not been confirmed.
Currently, Netflix's monthly subscription fee for the ad-free plan is $15.49. With over 200 million subscribers, Netflix has kept its subscription fees frozen since January 2022, unlike OTT competitors such as Disney. Instead, it eliminated the basic plan priced at $9.99 and took measures equivalent to a price increase by blocking account sharing, thereby focusing on securing profitability.
The WSJ stated, "Netflix has been the only major streaming service company not to raise subscription fees over the past year," adding, "It will wait until the Hollywood writers' and actors' strikes end before increasing subscription fees." The Hollywood writers' union reached a tentative agreement with major studios last week. The actors' and broadcasters' union (SAG-AFTRA), which went on strike in July, resumed negotiations with the studios this week.
Major streaming service companies have recently been raising prices for their ad-free plans. Starting on the 12th, Disney Plus's subscription fee will increase to $13.99, and Hulu's subscription fee will rise to $17.99. Warner Bros. Discovery raised Discovery Plus's monthly subscription fee from $6.99 to $8.99. However, the ad-supported plan, where subscribers must watch ads during video playback, remains priced at $4.99 per month.
Meanwhile, on the New York Stock Exchange this afternoon, Netflix's stock price is trading at around $374.5 per share, down 1.5% from the previous session.
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