Remember when cutting the cord was supposed to be cheaper than cable? The streaming giant Netflix reportedly plans to raise its subscription prices once the actor's strike ends. This, according to a report in the Wall Street Journal, which published the rumor earlier today.
The Journal's story, which says it received its information from people "close to the matter," does not say when, or just how much prices would increase, only that they would be rolled out first in the U.S. and Canada.
Last year, Netflix raised its prices to $19.99/month for its Premium plan and $15.49 for its Standard plan, and introduced a $6.99 ad-supported plan. This past summer, the company also phased out its $9.99/month ad-free plan, and started cracking down on password-sharing, though it did introduce the option to add family members for $8/month.
Of course, Netflix is hardly the only streamer to raise its rates in recent months. A Disney+ ad-free subscription will increase to $13.99 per month starting October 12, while ad-free Hulu will jump to $17.99 per month. This, after having raised prices just last year.
Peacock also raised its prices over the summer, increasing the cost of Peacock Premium $1 to $5.99 per month, and Premium Plus — which offers a mostly ad-free experience, episode downloads and a live NBC feed — by $2 to $11.99 per month
Max increased the price of its subscription in January to $15.99/month. Paramount Plus reworked its plans in June, raising the cost of its least-expensive plan to $5.99/month, up from $4.99. It also discontinued its $9.99/month plan, and launched an $11.99/month plan that includes Showtime.
Our best advice to avoiding price hikes? Look for deals on streaming subscriptions (you can usually find some around Prime Day and Black Friday), free trials, and keep tabs on which services you subscribe to, so you know which you should cancel each month.