Netflix is a big player in the video streaming market; the application is very popular for its original shows, and the company has offered subscriptions to users in a very affordable range. But after getting the competition in the market to bring more original shows, the company has gradually increased its plans to maintain the quality of its content.
According to reports, the company may again hike the subscription price because of ongoing strikes. For your information, in the past few months, the Writers Guild of America (WGA) was on strike; it lasted 148 days against Hollywood studios, and this has largely impacted streaming services. The main aim of the strike was to compel streaming platforms to share streaming data with the WGA.
However, the SAG-AFTRA (Screen Actors Guild—American Federation of Television and Radio Artists), an actors union, continues its strike due to several major project films, including Dune: Part 2 and ‘Spider-Man: Beyond the Spider-verse’.
After getting hit by the strike, different streaming platforms have raised subscription prices by 25%. This decision has been taken to balance profitability and attract new customers with low-cost, ad-supported plans. However, Netflix is applying a different approach to stand against financial challenges; the company is not raising prices directly and is taking other major steps like cracking down on password sharing among subscribers. This is a well-accepted move for existing users and also attracts new users.
Moreover, if we talk about Netflix’s plans, the company hasn’t made any changes since February, which was the last restructure of subscription plans that came with the implementation of restricting users from sharing passwords.
Currently, there are no other details about the exact price of the Netflix subscription plan, but there are a lot of speculations that if Netflix hikes the price, then it will initially roll out the new plans in the United States and Canada; however, the company doesn’t comment on it officially.
