Most Netflix productions ground to a halt over the summer thanks to the actors’ strike in Hollywood, which means the company is likely to have a relative shortcoming of new content due to the downtime.
However, once that strike ends and everyone goes back to work, Netflix’s first order of business sounds like it might be to put the prices up again.
According to a report from the Wall Street Journal on Tuesday, the streaming giant is planning fresh price hikes in several markets around the globe.
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- Usually £10.99 a month
Whether the UK would be included in those hikes remains to be seen, but it’s been 18-months since the company last increased the monthly dues in the UK.
The Premium tier with 4K HDR and Dolby Atmos costs £15.99 a month. You can get Netflix Basic with Ads for as little as £4.99 which offers video at 1080p with no access to offline downloads and limited commercial interruption. A Standard sub – which has no ads, 1080p streaming, offline downloads but no fancy AV tech – costs £10.99.
A price hike might be due, given most other providers have asked for more money from cash-strapped subscribers during 2023.
Netflix users have already seen the value of their subscription deteriorate over the last few months given the company’s new clampdown on password sharing. Until very recently, users have been able to share their subscriptions and maybe the cost with others. Now Netflix is kicking off devices deemed to be outside of the user’s household and is charging account holders fees to add extra members.
Given there’s likely to be a relative shortage of new content in the coming months, due to the strikes, you’d think Netflix would be a little more concerned about retaining subscibers rather than charging them more cash.
We’ll have to see how this unfolds in the months to come. Would another price hike curtail your relationship with Netflix? Or is it the one streaming service you can’t live without?