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%.
Netflix is discussing raising prices in several markets globally, but is likely to begin with the US and Canada, the WSJ reported, citing people familiar with the matter.
It was not immediately clear by how much Netflix will raise prices or when they will take effect, according to the report.
Netflix declined to comment.
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 for Wednesday.
The writers’ union struck a tentative deal with the AMPTP last week after five months of failed negotiations.
Netflix cut prices of its subscription plans in some countries in February. In the same month, it laid out a plan to crack down on password sharing by subscribers. This was rolled out in more than 100 countries in May.
Original Story by www.timeslive.co.za