Netflix already raised its prices a year and a half ago (in North America), but it’s about to do it again…
There was already a price hike in March 2022, so Netflix, which is also looking to expand into the gaming industry, has moved relatively quickly to raise prices. The Wall Street Journal reports that Netflix will do the same once the Hollywood strike is over. The Writers Guild of America had already reached a tentative deal with the studios last week, but negotiations with the Screen Actors Guild have resumed and no agreement has been reached between the two sides.
Netflix will officially announce the price increase after the strike is over, and it is not yet known how much it will be, but it will happen in the United States and Canada first, and it is already safe to say that the rest of the world will get the price increases in time, perhaps with the company slowly rolling out the price increases, or maybe it will happen everywhere simultaneously.
Several studios have reached tentative agreements with the Writers Guild of America, and writers will receive higher minimum wages, protection from AI tools, compensation, and additional bonuses. That’s good news for them, so they won’t lose ground to, say, OpenAI’s ChatGPT, which values their work. (That said, AI can’t do such sophisticated work, so the human mind can certainly beat technology in the finer details, and for the better).
Netflix won’t be the only one to resort to this price hike, so no matter what streaming service you subscribe to (we could list them here for days), there will be no exceptions. At least they’re being honest about it, and not just raising prices every year on the grounds of inflation, because unfortunately that can happen too.
Source: WCCFTech
