Netflix is planning to raise the price of its streaming service again, according to a report from The Wall Street Journal. The move comes as the company faces increasing competition from other streaming services, as well as the ongoing Hollywood actors strike.
Netflix has not yet announced how much it will raise prices, but the report says that the increase will take effect in several markets globally, starting with the U.S and Canada. The company last raised prices in January 2022.
In addition to the price hike, Netflix is also reportedly cracking down on password sharing and charging an extra fee for users who share their accounts with people outside of their household.
The move to raise prices comes as Netflix faces increasing competition from other streaming services, such as Disney+, HBO Max, and Amazon Prime Video. All of these services have raised prices in recent months.
Netflix is also facing the ongoing Hollywood actors strike, which has delayed the production of some of its most popular shows. The strike is expected to end in the coming weeks.
In addition to the news about Netflix, the WSJ also reports that Disney+ could launch a new live sports tier outside the U.S. The service currently does not offer any live sports content.
The sources for this piece include an article in TheVerge.
