When will Netflix stop raising prices? Not anytime soon, according to The Wall Street Journal (alternate link), which reported today that the streamer is planning to raise the costs of its streaming service yet again after the Hollywood actors strike ends. Not to be confused with the WGA strike, which recently concluded in what seems to be a win for writers, the SAG-AFTRA actor’s strike continues to drag on from its start in July, with new talks scheduled for Wednesday, October 4. Netflix’s most recent price hike was in January 2022, when its basic plan for U.S. customers rose $1 to $9.99, its standard plan increased to $15.49 from $13.99, and the premium plan increased to $19.99 from $17.99. The news comes on the heels of Warner Bros. Discovery announcing today that the monthly price of the ad-free version of Discovery+ would be rising to $8.99 from $6.99, although the ad-supported option remains unchanged at $4.99 a month.
The streaming service is discussing raising prices in several markets globally, but will likely begin with the U.S. and Canada, according to people familiar with the matter. It couldn’t be learned how much Netflix will raise prices by or when exactly the new prices will take effect. Netflix declined to comment.
Netflix, which stands out from its peers by running a profitable streaming business, has been the lone major streaming company not to raise prices over the past year—focusing instead on boosting revenue by cracking down on password sharing.