Netflix is going to increase the cost of subscription: the reason is revealed
Streaming platform Netflix plans to raise the price of its service after the end of the strike by Hollywood actors and writers.
Netflix was the only major streaming service that did not raise prices in 2023. However, the cost of streaming services is growing as companies try to increase their revenues by spending more on content.
It also makes the advertising versions of the platforms more attractive to users because they cost less.
Other companies, such as Warner Bros. Discovery and Disney are also planning to raise prices for their services.
According to the publication, companies are looking for ways to create new price levels for exclusive content, such as live sports broadcasts.
In addition, Amazon will also add a new price tier for its Prime Video service, including ads and charging more for ad-free subscriptions.
A large-scale strike by Hollywood actors
In July of this year, a large-scale strike began in Hollywood. SAG-AFTRA, a trade union representing famous actors, has officially confirmed that it is joining the writers’ “revolt.”
The unions demanded higher wages and profits from the boom in streaming platforms that did not disclose data about their audiences and did not pay for repeat screenings of successful shows and movies.
