Netflix intends to increase the cost of its ad-free subscription once the current strike by Hollywood actors concludes, as per the Wall Street Journal. This news resulted in a 3% surge in the company’s stock.
Netflix is currently in talks to increase its prices in various markets worldwide. However, it is anticipated that the initial price hike will be implemented in the United States and Canada.

According to the report, it is currently unclear the extent to which Netflix will increase its prices or the specific timing of when these new prices will come into effect.

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. The writers’ association reached a preliminary agreement with the AMPTP recently, following unsuccessful negotiations over a span of five months. In February, Netflix reduced the costs of its subscription packages in certain countries. Additionally, during the same month, the company introduced a strategy to address the issue of password sharing among its subscribers, which was later implemented in more than 100 countries in May.