No matter whether series or films, children or adults, the Netflix streaming service offers programming for everyone. But the former affordability of a subscription is becoming increasingly difficult as Netflix is expected to raise prices.
• Ongoing strike in Hollywood
• Agreement is likely to increase production costs
• As a result, subscription prices will increase
Strike in Hollywood
After around five months of the strike in Hollywood, members of the writers’ union Writers Guild of America (WGA) have reached an agreement with major studios such as Netflix, according to a contribution from ZDF. Improvements should be promoted particularly in the area of artificial intelligence. However, Hollywood actors have also been on strike since mid-July, which is why an agreement has yet to be reached. However, according to the Merkur portal, this is to be expected soon. The drawback here: In order to make the conditions of arbitration possible, there will be a price increase, according to an article in the Wall Street Journal. According to its own information, the New York daily has an insider report that even confirms the price increase plan.
Price increase in Germany
While prices in the USA and Canada had already risen in spring 2022, the streaming service’s last price increase occurred in Germany in 2021. According to the Wall Street Journal, Netflix is said to have set the increase for “several months” after the strike ends. Based on this, the giga.de portal assumes an increase by the end of 2024 at the latest, but there is no official information from Netflix. The increase is apparently initially planned for the USA and Canada; no exact period has yet been determined for Germany.
Nevertheless, there has already been an increase in the subscription price in Germany, but it was rather hidden and so “password sharing” was abolished. While you could previously share the monthly fees with a group of people, you now have to pay an additional fee of 5 euros if you share your account with people outside your own household. It is still unclear what measures Netflix will take in the future. The pricing framework also remains to be seen.
J. Vogel / editorial team finanzen.net
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