According to multiple media reports, Netflix (NFLX) is planning to raise the price of its ad-free streaming tier once the strike by Hollywood actors ends.
Netflix is reportedly discussing raising prices in the U.S. and Canada immediately after the strike ends, with plans to also increase prices in foreign markets moving into 2024.
The streaming company has not announced any price hikes and it is not clear how much Netflix will raise prices by or when any new price increases will take effect.
Talks between the SAG-AFTRA actors' union and the Alliance of Motion Picture and Television Producers (AMPTP), which represents film and television studios, continue, though no deal has been reached.
However, the Writers Guild of America (WGA), the union that represents Hollywood writers, struck a tentative deal with the studios a week ago following five months of negotiations.
In addition to potential price increases, Netflix is also cracking down on password sharing by subscribers and has introduced paid advertisements to its streaming service for the first time.
Netflix’s stock has gained 57% in the last 12 months to trade at $376.75 U.S. per share.
