Keeping streaming libraries current and diverse is expensive for streaming companies. The impact of two strikes in Hollywood (writers and actors) and a scramble to make streaming services more profitable seem to be the driving force behind the higher prices. According to the Journal, the average price increase for ad-free streaming services has jumped by about 25%. Every major streaming service, including Apple TV, the Disney Bundle (Disney+, Hulu and ESPN+), HBO Max (Now known as Max), Paramount+ and Peacock has charged their customers more for various services in 2023. Netflix and Discovery+ aren’t the only two streaming services to implement a price hike over the past 12 months. The company say another change that year: It began offering a $7 per month ad-supported subscription in November 2022. The Netflix price increase would be the first since January 2022. Netflix did not confirm these internal company discussions or the possibility of higher prices. MORE: Disney to raise prices on Disney+ and Hulu streaming services The current monthly cost for the standard ad-free Netflix experience is $15.49. It is unknown at this time specifically when the price increase may happen, or how much more Netflix plans to charge for ad-free streaming. The Wall Street Journal reported the company is discussing introducing the price hike in the coming months after the Hollywood actors’ strike ends. Meanwhile, Netflix may be planning to raise the price of its ad-free subscription tier. “This will allow us to continue to provide can’t-miss stories in the food, home, relationships, true crime, paranormal genres - plus so much more.” “This is the first time Discovery+ has increased the price of a monthly subscription in these markets since launching in January 2021,” the company said in its press announcement. However, the company’s ad-lite monthly subscription price will remain $4.99. MORE: Watch TV for free with these no-charge streaming services 2, and applies to new and current customers. The new price goes into effect as of the November billing cycle, on or after Nov. 3, the Discovery+ streaming service announced a price hike for its ad-free monthly subscription from $6.99 to $8.99 (plus taxes). One streaming service has confirmed that one of its subscription tiers will cost customers more in November, while another may be considering raising its prices soon. You might want to check your monthly bill soon if you have multiple streaming entertainment subscriptions.
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