Netflix May Bring Another Price Hike After Actors Strike Ends: Report
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Streaming giant Netflix is likely to increase prices of its ad-free subscription service after the continuing Hollywood actors strike ends, the media has reported. According to a report by The Wall Street Journal (WSJ), which cited souces familiar with the development, Netflix is mulling to increase the prices in several markets globally, and the US and Canada may be the first regions to witness an increase in subscription costs. It is not known if the price hike will be applicable for Netflix users in India.
The cost of major ad-free streaming services has gone up by around 25 per cent, amid attempts by entertainment companies to bring their streaming platforms to profitability and lead price-conscious subscribers, the WSJ report added.
Notably, Netflix introduced ad-supported plans earlier this year which saw five million monthly active users (MAUs), just six months after its launch, the company announced in May.
The streaming giant also ended password sharing in India a few weeks ago, and a statement from Netflix stated that all members living in the same Household could continue to enjoy access to the platform across various devices, including at home, while travelling, or during vacations. Additionally, the company introduced new features like Transfer Profile and Manage Access and Devices to enhance the user experience.
ALSO READ: Amazon Prime Video To Show Ads Starting 2024
Days after Netflix, Walt Disney’s streaming service Disney+ Hotstar also launced a crackdown on password sharing in India.
Netflix rival Amazon Prime announced last month that advertisements are coming to its video’s entertainment content, starting next year. The ad-supported tiers are coming to Prime Video in 2024 amid the company’s attempt to squeeze new revenue. Ads in movies and series will be introduced in Prime Video in the US, the UK, Germany and Canada in early 2024. The ad-supported tiers will be introduced in France, Italy, Spain, Mexico, and Australia later in the year.
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