Netflix hikes prices amid actor strikes, crackdown on password sharing

WASHINGTON (TND) — Netflix has raised its prices...again.

A premium ad-free plan in the United States is now $3 more per month at $22.99. A one-stream basic plan is $11.99 and all other plans including entry-level with ads will remain at $6.99.

The changes come as the streaming giant cracks down on password sharingand actors continue to strike over streaming revenue and the use of artificial intelligence.

“While we mostly paused price increases as we rolled out paid sharing, our overall approach remains the same — a range of prices and plans to meet a wide range of needs, and as we deliver more value to our members, we occasionally ask them to pay a bit more,” Netflix said in a shareholder letter.

In the company's third quarter, they reported the addition of 5.9 million subscribers due to the rollout of paid sharing. Revenue hit $8.9 billion which is up 8% from a year earlier.

Netflix also acknowledged the uncertainties they have faced during the last six months.

“The last six months have been challenging for our industry given the combined writers and actors strikes in the US,” according to the letter. “While we have reached an agreement with the WGA, negotiations with SAG-AFTRA are ongoing. We’re committed to resolving the remaining issues as quickly as possible so everyone can return to work making movies and TV shows that audiences will love.”

Negotiations between SAG-AFTRA and the studios were recently suspended after the two sides couldn't agree on the latest proposal.