Netflix might increase the prices of its video streaming subscriptions after the company is done with the next earnings call, which is set for tomorrow (October 18, 2023), reports Reuters. Unfortunately, there is no information about the new prices of the subscriptions.
Earlier this month, a report from The Wall Street Journal had also claimed that Netflix would increase the prices of its subscriptions. According to it, the price increase will take place a few months after Hollywood actors end the ongoing strike, which is expected to happen in the next few weeks. So, get ready to start paying more to access Netflix.
Netflix could increase prices for the second time under 20 months
The last time Netflix increased the price of its streaming subscriptions was in March 2022. Currently, the company offers three video streaming plans, Standard with ads, Standard, and Premium, which cost $6.99/month, $15.49/month, and $19.99/month respectively.
Earlier this year, Netflix cracked down on password sharing, stopping more than 100 million people from using its services for free. This move helped the company to gain six million new subscribers by June 2023, boosting the revenue by a huge margin. The Wall Street Journal expects Netflix to post the strongest quarterly subscriber addition this year.
