Netflix, Discovery to Raise the Cost of Their Streaming Services, Citing Ongoing Actors’ Strike

Netflix and Discovery+ will soon raise the cost of their streaming services as the ongoing actors’ strike continues to hamstring Hollywood according to report by Forbes.

The upcoming price rise for Netflix will be the company's first since January 2022. Although the financial performance of certain programs has long been cloaked in obscurity, both Netflix and Discovery+ claim their streaming services are profitable.

According to the corporation, Netflix had 238.4 million users globally at the end of June, up 5.9 million from April to June.

As the site pushed down on password sharing and required any accounts used by multiple families to divide into separate accounts or pay more for the option to watch in different locations, those months witnessed a significant increase in customers.

 According to Warner Bros. Discovery, 95.8 million people were using its streaming services as of August, divided across HBO, Discovery+, and Max.

$15.99, The most costly major ad-free streaming service is ad-free Max at that monthly cost, followed by Netflix at $15.49, Hulu at $14.99, and Paramount+ and Peacock Premium at each $11.99.

 A lot of those providers also provide more affordable ad-supported levels.

The production of all TV series and movies was mostly halted 82 days ago when actors and writers went on strike together.

After the Writers Guild of America and a group of Hollywood companies agreed a new deal, the writers called off their 148-day strike last week.

This could be the first time that limited streaming data is made public.

The agreement will oblige streamers to provide the WGA with audience figures for both original and syndicated material, and while such figures may be covered by nondisclosure agreements and not made public, the union will probably still be allowed to do so.

The data would enable writers to get bonuses depending on the popularity of their work on streaming platforms and will help businesses defend their in-house content creation efforts.