Is another Netflix price hike coming? Find out why an increase may be imminent
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Rumours of another Netflix price hike swirl as the long-running Hollywood actor strike nears its end.
Speculation is growing that Netflix may announce price increases for its ad-free subscription plans in the coming months, as a result of the loss in revenue the company is suffering due to the ongoing Hollywood actor strike.
This particular strike has recently disrupted the production and release of some of Netflix's more popular shows, such as the long-awaited Stranger Things, which has now been pushed back all the way to 2025.
At least 43 other shows and movies have been postponed due to the strike, and the losses will have to allegedly be shouldered by its customers.
The US and Canada are said to be the first who will experience the increase.
Findlay-Wilson, Managing Director of Energy PR, said that Netflix may suffer from potential damage to its reputation due to the ongoing strike, in which many consider Netflix to have been cast as the main 'villain' in the narrative.
The Screen Actors Guild–American Federation of Television and Radio Artists (SAG-AFTRA) represents approximately 160,000 actors who have been on strike after failing to reach an agreement with the Alliance of Motion Picture and Television Producers (AMPTP) on concerns about the use of AI and residuals.
SAG-AFTRA followed Writers Guild of America which had already been on strike since May 2.
The writers’ strike lasted 146 days, just five days shy of becoming the longest strike in the guild’s history. WGA and studios have arrived on a 'tentative' deal last September including residual payments for shows streamed online, additional transparency on viewership numbers on streaming platforms such as Netflix, and better guidelines on the use of Artificial Intelligence (AI).
Despite this, the actors' strike still persists, but the deal with the writers have sparked a new sense of optimism as similar concerns were addressed.
This news also comes after Netflix’s recent decision to ban password sharing as it had cost the corporation around a staggering $6bn in lost revenue in 2021 based on an estimate by Citibank.
While Netflix did not give an exact amount of the lost revenue from password sharing, they revealed in January that the 'widespread account sharing' was done by more than 100 million viewers out of its 232 million paying customers worldwide.
The issue was finally addressed by the company earlier this year, to the dismay of their customers.
Users can share their login credentials with another for an additional $7.99 per person they share the password to and per month.
You can read more about this here.
Moreover, a year of lacklustre growth in subscriptions resulted in the company’s most significant customer losses in ten years.
Netflix had labelled 2022 as a 'tough year' as its customer base fell by 200,000 subscribers in the first quarter.
Members, are you currently subscribed to Netflix? Will you be continuing your subscription should they push through with another price hike? Share your thoughts with us in the comments below!
Speculation is growing that Netflix may announce price increases for its ad-free subscription plans in the coming months, as a result of the loss in revenue the company is suffering due to the ongoing Hollywood actor strike.
The SAG-AFTRA strike has greatly affected Nextflix’s plan which some reports say may lead to another price increase. Image source: Netflix.
This particular strike has recently disrupted the production and release of some of Netflix's more popular shows, such as the long-awaited Stranger Things, which has now been pushed back all the way to 2025.
At least 43 other shows and movies have been postponed due to the strike, and the losses will have to allegedly be shouldered by its customers.
The US and Canada are said to be the first who will experience the increase.
Findlay-Wilson, Managing Director of Energy PR, said that Netflix may suffer from potential damage to its reputation due to the ongoing strike, in which many consider Netflix to have been cast as the main 'villain' in the narrative.
The Screen Actors Guild–American Federation of Television and Radio Artists (SAG-AFTRA) represents approximately 160,000 actors who have been on strike after failing to reach an agreement with the Alliance of Motion Picture and Television Producers (AMPTP) on concerns about the use of AI and residuals.
SAG-AFTRA followed Writers Guild of America which had already been on strike since May 2.
The writers’ strike lasted 146 days, just five days shy of becoming the longest strike in the guild’s history. WGA and studios have arrived on a 'tentative' deal last September including residual payments for shows streamed online, additional transparency on viewership numbers on streaming platforms such as Netflix, and better guidelines on the use of Artificial Intelligence (AI).
Despite this, the actors' strike still persists, but the deal with the writers have sparked a new sense of optimism as similar concerns were addressed.
This news also comes after Netflix’s recent decision to ban password sharing as it had cost the corporation around a staggering $6bn in lost revenue in 2021 based on an estimate by Citibank.
While Netflix did not give an exact amount of the lost revenue from password sharing, they revealed in January that the 'widespread account sharing' was done by more than 100 million viewers out of its 232 million paying customers worldwide.
The issue was finally addressed by the company earlier this year, to the dismay of their customers.
Users can share their login credentials with another for an additional $7.99 per person they share the password to and per month.
You can read more about this here.
Moreover, a year of lacklustre growth in subscriptions resulted in the company’s most significant customer losses in ten years.
Netflix had labelled 2022 as a 'tough year' as its customer base fell by 200,000 subscribers in the first quarter.
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