Streaming giant Netflix is reportedly preparing to raise the prices of its ad-free subscription plans a few months after the conclusion of the Hollywood actors’ strike. According to the report from The Wall Street Journal, the pricing will be increased in he United States and Canada first. It is also not clear how much more Netflix will charge.
The streaming service last raised prices at the beginning of 2022, charging $9.99 per month for the Basic plan, $15.49 per month for the Standard plan, and $19.99 per month for the Premium plan.
Netflix has since eliminated the Basic plan and added a Standard with ads plan that is priced at $6.99 per month. Additionally, the company has ended multi-household sharing, requiring Netflix users to reside in the same location to share a plan. Otherwise, there will be an extra cost for an additional member slot.
The report also mentioned that there is no specific word yet on when Netflix will raise prices.
Multiple streaming platforms have been raising their prices this year. Ad-free Disney+ streaming will soon be $13.99 per month, and ad-free Hulu is going to be $17.99 per month following price hikes set to go live this month. Disney+ is starting this new rule from November 1 in Canada and it has already sent a mail telling the users about the new system and how they cannot share the account with friends.
The platform will also have a method to gauge who the eligible users of the account are and for this, it has also used the concept of household to determine who can and cannot watch from the said profile.
Most streaming companies are aware of the sharing password phenomenon which eludes them of possible paying subscribers. And the new dawn at Disney+ with CEO Bob Iger tightening the ship means that the platform is equally invested in getting more people to pay for its service rather than watch through their friend’s account.