https://www.theverge.com/2023/10/3/23901315/netflix-subscription-price-raise-wga-strike

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Netflix is planning to raise prices... again

Netflix is planning to raise prices... again

/

Netflix could implement its next price hike soon, according to a
report from The Wall Street Journal.

By Emma Roth, a news writer who covers the streaming wars, consumer
tech, crypto, social media, and much more. Previously, she was a
writer and editor at MUO.

Oct 3, 2023, 2:47 PM UTC|

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Netflix's logo on a black and yellow background
Illustration by Alex Castro / The Verge

Netflix is planning to increase the cost of its streaming service yet
again, according to a report from The Wall Street Journal. The
streamer will reportedly issue the price hike a "few months" after
the Hollywood actors strike ends, which could happen in the coming
weeks.

As reported by the WSJ, Netflix will raise prices in "several markets
globally," starting with the US and Canada. It's still not clear how
much Netflix will raise prices, and Netflix declined to comment.
Netflix raised prices across all of its plans last year, bringing the
ad-free Standard tier to $15.49 / month and the Premium plan to
$19.99 / month. The company also rolled out a $6.99 / month
ad-supported plan and later axed its mid-tier $9.99 / month basic
ad-free plan.

Earlier this year, Netflix cracked down on password sharing and
started charging an extra $7.99 per month to share your account with
someone outside your household. The move to raise prices again also
comes as Hollywood moves closer to getting back to work. Just last
week, the Writers Guild of America (WGA) ended its strike and began
voting on a contract with major Hollywood studios, including Netflix,
that could change the business of streaming.

According to the WGA's calculations, the cost of their new contract
will amount to just 0.2 percent of Netflix's annual revenue

For example, Netflix, Disney Plus, Hulu, and other services will now
have to share streaming data with the WGA under the new contract,
allowing writers to see how well their content performed. The
contract also grants writers of streaming features a minimum
compensation increase of 18 percent for high-budget films, along with
a 26 percent increase in residuals. According to the WGA's
calculations, the cost of their new contract will amount to just 0.2
percent of Netflix's annual revenue.

Meanwhile, Hollywood actors still remain on strike, which means some
productions are still on pause. Netflix is likely waiting until the
end of the strike to raise prices, as hiking up costs when no new
content is coming out doesn't seem like a smart move. Once both
writers and actors are back to work, there will likely be a lot of
new shows and movies coming out that Netflix can use to justify the
increase.

In addition to the news about Netflix, the WSJ also reports that
Disney Plus could launch a new live sports tier outside the US.
Disney Plus is no stranger to price hikes, either, as its most recent
one goes into effect later this month.

(Disclosure: The Verge's editorial staff is also unionized with the
Writers Guild of America, East.)

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More from this stream Hollywood's actors are still on strike

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    The marathon meeting that helped end the writers strike.

    Sep 27, 2023, 2:06 PM UTC
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    The new WGA contract will change how Hollywood works

    Sep 27, 2023, 1:36 AM UTC
  * 
    The Writers Guild of America's strike is over

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  * 
    Hollywood writers reach tentative deal to end the strike

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