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Netflix reportedly planning to raise prices following end of actors’ strike

Netflix
Talking about India, Netflix’s monthly plans range between Rs 149 and Rs 649.

American multinational video streaming platform Netflix is reportedly planning to increase the prices of its ad-free service. According to a report by The Wall Street Journal, the streamer will hike the prices a “few months” after the end of the Hollywood actors’ strike.

Hollywood actors went on strike to address issues related to fair compensation, residual payments, profit sharing, and concerns about the increasing use of artificial intelligence in the entertainment industry. This strike has garnered significant attention and support from industry professionals. Reuters reported that for the first time since mid-July, the SAG-AFTRA actors’ union and the Alliance of Motion Picture and Television Producers (AMPTP), which represents the studios, on Monday resumed contract talks.

While Netflix is mulling the price hike in several markets globally, it will likely begin with the United States and Canada. There has been no official confirmation from the streaming giant and it is unclear how much will be the price rise or when will it be implemented.

Talking about India, Netflix’s monthly plans start at Rs 149 for a mobile device and go up to Rs 649 for a premium subscription with accessibility on four devices and other benefits. In July, the company expanded its password-sharing crackdown to India. The OTT platform began the crackdown on password sharing for its subscription services in February and has since expanded it to several others including the United States.

The Los Gatos-headquartered company estimated in February that over 100 million households are sharing their account login credentials which is impacting its ability to invest in great new TV and films. The company had said in the past that the new password policy would give its members greater control over who can access their accounts. Netflix’s crackdown on password sharing is fetching results as the streaming major saw an uptick of 5.9 million in the number of global subscribers supported by its paid sharing rules in the quarter that ended in June.

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