Netflix has risen to the forefront as a leading streaming service in the world over the years. From creating top-notch originals to stocking its library with popular movies, the streaming giant has given its streamers more than one reason to hold on to it. However, the strikes brought about a significant financial setback for all the media houses and streaming companies, including Netflix. This led the company to roll up its sleeves and find new ways to make money through its consumers. 

Recently, the scoop about an increase in Netflix’s subscription rates started circulating in the air. If it has any truth to it, this would be the second price hike fans will see in just twenty-one months. 

Netflix increasing its rates once again 

Netflix faced a lot of backlash after introducing its campaign to crack down on password sharing. However, this called for a movement in many other streaming giants, including Disney+, who rode the same train as Netflix to rob their streamers of the delight of sharing passwords with their loved ones. As per a recent report from Reuters, Netflix will be introducing another price hike measure following the password-sharing curb. 

As per the report, Netflix boosted a customer base of six million in the third quarter following the password-sharing ban. As soon as the reports of their third-quarter earnings come out, the OTT giant will increase its membership rates. Though this report gave a detailed insight into the Netflix price hike, fans already had a heads-up on this move.

At the beginning of this month, another report informing about the price hike of Netflix following the strike’s end made a lot of headlines. 

The OTT giant increasing its rates following the SAG-AFTRA strike end 

Netflix has lately been on a spree of disappointing its subscribers with its measures. Whether it was removing fan-loved shows from its library, or constantly finding new ways of putting a burden in its customers’ pockets, it gave fans a lot of reasons to outrage on social media. A few days back, The Wall Street Journal released a report saying Netflix will increase the rate of its ad-free subscription following the conclusion of the SAG-AFTRA strikes.

This report came out just a few months after CFO Spencer Neumann declared that there would not be any price hike for a year. However, given the losses that resulted from the strikes, the OTT giant is going back on his word. Though it is not yet clear how much escalation would Netflix introduce in its subscription model, Canada and the USA would be the first ones to experience the hikes. 

What do you think about Netflix’s price escalations? Let us know your thoughts in the comments below.