Netflix prices

Netflix is to become the latest streaming service to lift fees. Image: Pixabay

Netflix to raise prices after cracking down on password sharing

Netflix is looking at raising the price of its ad-free service after the ongoing Hollywood actors’ strike ends.

Netflix prices

Netflix is to become the latest streaming service to lift fees. Image: Pixabay

This is according to the Wall Street Journal, a report that sent the content streaming service’s shares up more than 3%.

Netflix is discussing raising prices in several of its global markets. It will likely begin with the United States and Canada, before looking at other countries around the world.

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Currently, a monthly Netflix subscription in South Africa costs R99/ month for the Basic Plan and R49/ month for the Mobile Plan.

Cracking down on password sharing

It was not immediately clear how much Netflix will raise their prices by, or when exactly the new prices will come into effect. Netflix also declined to comment on the report.

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Netflix cut prices of its subscription plans in some countries in February 2023. In the same month, it laid out a plan to crack down on password sharing by subscribers. This plan was rolled out in over 100 countries in May, and began to take effect in South Africa in July.

Netflix taken to task

Netflix is currently locked in talks with the SAG-AFTRA actors’ union and the Alliance of Motion Picture and Television Producers (AMPTP), which represents the studios, about negotiating a new contract for actors.

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One of the key issues is that of new media rights. Netflix is a major producer of original television and film content, and the SAG-AFTRA union wants to ensure that its members are compensated fairly for their work on Netflix productions.

The talks are also focused on other issues such as the use of artificial intelligence (AI) in the production of film and television content. The SAG-AFTRA union is concerned about the potential impact of AI on the job security of its members.

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The writers’ union struck a tentative deal with the AMPTP last week after five months of failed negotiations.