Netflix price increase coming as response to Hollywood writer's strike

Netflix is one of the OGs when it comes to streaming platforms, and despite the rise of competing services, Netflix continues to be a dominant player and is the number one streaming platform in a lot of countries, including the USA.

Perhaps what Netflix is most known for is how it allows sharing of accounts between various people, which has stopped its subscribe base from growing as fast as it would have liked. There are other reasons too, like Netflix's insistence on sending some popular shows to an early grave and the fact that its prices are among the highest of any streaming platforms.

Netflix attempted a crackdown on password sharing earlier this year in the interest of getting people to stop leeching off all the content on their friend or family's money, but it isn't done yet.

Netflix plans could get costlier before the end of 2023

Netflix could be bumping up its subscription pricing later this year as another step towards getting its financials in order, according to the Wall Street Journal. Netflix seems to have moved up its plans of asking customers for more money as a result of Hollywood's recent writer's strike, which brought work on a lot of movies and TV shows to a standstill for nearly 40 weeks.

That naturally had a substantial financial cost and is also expected to increase expenditure for Hollywood's biggest production companies going forward, as the striking writers had demanded things such as an increased minimum wage, better pensions, longer contracts, bigger writing teams, and better royalties, which have reportedly been accepted and will go into effect soon.

As you would expect, Hollywood companies and streaming services will have to charge their customers more in order to provide better wages and benefits to their writers, and Netflix seems to be preparing to do just that. All of their plans will apparently get more expensive in the future, though at this time there is no word on just how much of a price hike customers can expect.