Netflix will raise its prices for its ad-free subscription service tiers by an unspecified amount at the conclusion of the Hollywood actors strike, the Wall Street Journal reported Tuesday citing undisclosed sources.
The paper said Netflix is looking to up prices in specific global markets, with the U.S. and Canadian region going first.
Netflix hasn't publicly commented on this yet.
The streaming company last raised prices in January 2022, when it upped the price of its most popular tier to $15.49 a month in the U.S. Netflix's previous price increase before that come in October 2020.
As for the strike, leadership for actors union SAG-AFTRA is meeting with heads of major video content companies for a second consecutive day, as they look to end a work stoppage that started in July.
Last week, the Writers Guild of America reached an agreement with producers that ended a separate but connected 146-day strike.
Not only was the WGA able to secure collective bargaining protection against obsolescence to its members caused by artificial intelligence, it was able to gain significant increases on things like residual payments for streaming work.
The actors union is after many of these same concessions.
Netflix reported positive net cash flow of $1.339 billion in the second quarter, with revenue increasing 2.7% year over year to $8.187 billion.
Earlier on Tuesday, Warner Bros. Discovery announced that it will raise prices domestically for the ad-free version Discovery Plus, even though the subscription service relies mainly on reality-lifestyle programming, sans guild talent.
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Daniel Frankel is the managing editor of Next TV, an internet publishing vertical focused on the business of video streaming. A Los Angeles-based writer and editor who has covered the media and technology industries for more than two decades, Daniel has worked on staff for publications including E! Online, Electronic Media, Mediaweek, Variety, paidContent and GigaOm. You can start living a healthier life with greater wealth and prosperity by following Daniel on Twitter today!