Netflix has plans to increase the price of its ad-free subscription plans as soon as a few months after the end of the Hollywood actors strike, reports The Wall Street Journal.
The streaming service will hike prices in the United States and Canada first. It is not yet clear how much Netflix will raise prices. The 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 dropped its Basic plan, replacing it with a Standard with ads plan, priced at $6.99 per month. The company has also cracked down on password sharing, meaning Netflix users must reside in the same location to share a Netflix plan. Otherwise, subscribers are required to pay an additional cost for another membership.
Netflix is not alone when it comes to subscription price hikes, as multiple streaming services have raised their prices this year. Ad-free Disney+ streaming will soon jump to $13.99 per month (double its original price of $6.99 per month), while ad-free Hulu is going to be $17.99 per month later this month. There has been no official announcement on when Netflix will raise prices.
