CALIFORNIA – Netflix is planning to raise the price of its ad-free service after the ongoing Hollywood actors’ strike ends, the Wall Street Journal (WSJ) reported on Tuesday, sending the streaming company’s shares up more than 3 per cent. Netflix is discussing raising prices in several markets globally, but will likely begin with the United States and Canada, the WSJ reported, citing people familiar with the matter. It was not immediately clear how much Netflix will raise prices by or when exactly the new prices will take effect, according to the report. Talks between the SAG-AFTRA actors’ union and the Alliance of Motion Picture and Television Producers (AMPTP), which represents the studios, are ongoing, with their next meeting scheduled on Wednesday. Netflix cut prices of its subscription plans in some countries in February.

Source: Wall Street Journal October 04, 2023 13:52 UTC