![]() And the actors, who are still on strike, are demanding more, too. Making streaming shows will get only more expensive after the end of the writers strike, which boosted pay and benefits for Hollywood writers. Raising prices is one way to solve that issue. Meanwhile, consumer demand for streaming services has slowed dramatically since the pandemic, cutting into streamers’ revenue growth. ![]() The Los Gatos, CA-based streaming giant announced the death of its 11. ![]() Hollywood studios continue to demand more from streaming services for their TV shows and movies, as production costs rise. Netflix is about to get a lot more expensive for a huge chunk of its subscriber base. Discovery, raised prices in January 2023 by $1 a month – its first-ever price hike. And Max, owned by CNN parent company Warner Bros. Disney+ in August hiked prices by $3 a month – for the second time this year. Netflix last raised prices in January 2022, but its biggest competitors have all raised prices since then. Ted Sarandos, Netflix’s co-CEO, said talks stalled after the guild’s latest proposal was “a bridge too far.” Raising prices along with its competition Last week, negotiations between SAG-AFTRA, which represents Hollywood’s actors, and the studios, were suspended. An agreement with the writers guild was reached last month, and Netflix said it is “committed to resolving the remaining issues” with the actors on strike. In a letter to shareholders, Netflix called the last six months “challenging” given this summer’s writers’ guild and actors’ guild strikes. Netflix’s stock jumped by 12% in after-hours trading. Earnings per share for the quarter came in at $3.73. The company brought in $8.54 billion in revenue last quarter, boosted by higher-than-expected growth of its membership base. Netflix also said that adoption of its advertising tier plans continues to grow, with membership up almost 70% compared to the previous quarter. Rather, many customers who previously borrowed passwords from others are converting into full paying subscribers, according to Netflix. Netflix said it has officially rolled out its “paid sharing” program in every region where the company operates, and fewer customers than they expected cancelled their memberships as a result. Netflix attributed some of its strong subscriber growth to its continued password-sharing crackdown. Overall, Netflix reported 247 million paid global subscribers in the third quarter. Netflix last raised its prices in January 2022 and it closed off access to the 9. That’s compared to 2.4 million in the third quarter last year. The company reported a 9% year-over-year increase in average paid memberships, adding 8.8 million subscribers last quarter. Netflix reported increase in average memberships Netflix also announced price increases for some subscription tiers in the United Kingdom and France. All other plans, including its entry-level, $6.99-a-month ad-supported tier, will remain at the same monthly cost. Its one-stream basic plan will rise to $11.99 in the United States. Prior to Thursday, those plans were priced at 12.99 and 15.99, respectively. The streaming giant said in its third-quarter earnings report that its premium ad-free plan in the United States will increase by $3 per month, to $22.99, starting Wednesday. Netflix on Thursday raised the prices of its standard and premium plans to 13.99 and 17.99 per month, respectively. For tips on how to save money while making sure you get to watch some of the must-see releases, check out our round-up of how to save on streaming services and find streaming deals.(CNN) - Netflix has raised its prices again. With some of the biggest streaming platforms raising rates, you may want to check out other options. How you can save on your streaming services The actors' strike is ongoing, but the price hike is here nonetheless. The report said that the company was planning to wait until the actors' strike ended and that it was looking at several other markets worldwide. News that Netflix was planning to raise rates was initially reported in an October 3 W all Street Journal report citing sources familiar with the matter. Both versions of these services with ads remained unchanged at $7.99 per month. The cost of its monthly ad-free Hulu plan also rose to $17.99, from $14.99. In August, The Walt Disney Company announced a price hike for its monthly ad-free Disney Plus plan to $13.99, from $10.99, effective October 12. Last month, Amazon Prime Video announced that its Prime Video streaming service will be getting ads in early 2024, although members can opt for an ad-free version for $2.99 per month. to $8.99, from $6.99, but kept its monthly "ad-light" subscription fee unchanged at $4.99. Discovery hiked the price for its Discovery Plus ad-free monthly subscription in the U.S. Netflix, Doordash) Miscellaneous Manufacturing Specialty Trade Contractors. Netflix is the latest streamer to boost prices.
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