Netflix Plans To Increase Service Prices After Hollywood Actor Strike Ends

Netflix plans to raise the price of its service (photo: dock. pexels)

Netflix plans to raise the price of its ad-free service after the Hollywood actor strike that took place some time ago ended this week. This was reported by the Wall Street Journal on Tuesday, October 3 which saw the streaming company's shares rise by more than 3%.

Netflix is discussing price increases in some markets globally, but is likely to start with the United States and Canada, as reported by the WSJ, citing sources familiar with the matter.

It is not clear how big the price increase will be for Netflix or when the new price will come into effect.Netflix declined to comment on the report.

Talks between the SAG-AFTRA actor union and the Alliance of Motion Picture and Television Producers (AMPTP), representing the studio-studio, are still ongoing, with their next meeting scheduled for Wednesday, October 4.

The authors' union approved a temporary agreement with AMPTP last week after five months of failed negotiations.

Netflix has lowered its subscription package price in several countries in February. In the same month, Netflix detailed its plans to address password sharing by customers which was then implemented in more than 100 countries in May.