According to the Wall Street Journal, Netflix is planning to increase the price of its ad-free service once the ongoing Hollywood actors’ strike comes to an end. This news caused the streaming company’s shares to rise over 3%. The price increase discussions are being held for multiple markets globally, but the initial step is expected to be taken in the United States and Canada. It is still unknown how much the price increase will be or when exactly it will take effect. Netflix declined to comment on the report.
Talks between the SAG-AFTRA actors’ union and the Alliance of Motion Picture and Television Producers (AMPTP), which represents the studios, are still in progress. Their next meeting is scheduled for Wednesday. Last week, the writers’ union reached a tentative agreement with the AMPTP after five months of unsuccessful negotiations.
In February, Netflix reduced the prices of its subscription plans in certain countries. During the same month, the company also unveiled a plan to crack down on password sharing by subscribers, which was implemented in over 100 countries in May.
This news report was compiled by Yuvraj Malik in Bengaluru and edited by Anil D’Silva.
Credit: The Star : Tech Feed
