Netflix is planning to raise the price of its ad-free service a few months after the SAG-AFTRA strike ends in Hollywood, according to a recent report from The Wall Street Journal.
What do we know about a potential Netflix price raise?
WSJ’s new report notes that Netflix has been discussing raising its prices in “several markets globally,” but that things will likely begin in the United States and Canada. As of yet, there is no concrete number for how much the price will increase, or when the price jump will take effect, so it’s unclear just when Netflix may look to implement its new prices.
The reported move comes just a few months after the company began cracking down on password sharing. Earlier this year, the platform began asking users to set a household location on their devices (per THR) and for users who shared that account to pay for an additional subscription.
The password crackdown, as well as the planned price jump, comes as Netflix and other streaming companies begin looking to become more profitable. WSJ’s report also notes that other streaming companies have begun looking into providing new pricing tiers that include more exclusive programming, like sports, into their company.
Warner Bros. Discovery has actually already done this as well, recently announcing that Max will have live sports added to its streaming platform, while Peacock and Paramount+ are home to live soccer games as well.
