Here is everything you need to know about the potential price hikes.
Netflix is planning to raise the price of subscriptions to its ad-free service, according to a new report.
Citing sources familiar with the matter, The Wall Street Journal (WSJ) states that the streaming giant is considering price hikes in several markets globally and that this would most likely start in Canada and the United States.
In Ireland, three different types of Netflix subscriptions are currently available to customers – basic (€8.99 per month), standard (€14.99) and premium (€20.99).
The more expensive plans offer customers higher quality streams and the ability to watch Netflix content on more than one device or multiple devices at a time.
Meanwhile, in a number of other countries, Netflix offers a cheaper option titled ‘standard with ads’.
As part of this, subscribers are presented with an average of four minutes of unskippable adverts per hour of watching the streamer’s content.
Netflix is reportedly planning to raise its prices again
The WSJ reports that it is unclear right now as to how much Netflix is considering raising its prices and when exactly the change could take effect.
However, it adds that the introduction of the price hike is planned for “a few months after the continuing Hollywood actors’ strike” ends.
Earlier in the week, negotiators for the striking actors resumed discussions with representatives for major studios, streaming services and television networks for the first time since July.
In its report, The WSJ also stated that the cost of major ad-free streaming services has gone up by about 25% over the past year or so.
That said, it also highlighted that Netflix has been the only major streamer not to raise its prices in the past 12 months.
This is as it sought to boost its revenue through various other methods, including its much-publicised crackdown on password sharing.
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