Netflix Reportedly Raising Prices Yet Again, And It’s Not The Only Streaming Service Doing So

Conventional wisdom tells us that there is a time to reap, and a time to sow. Streaming services seem to be doing both at the moment, as they’re sowing the seeds for future price increases that are happening down the line. With Disney+ subscription holders feeling that pinch in the coming weeks, it looks like Netflix is also reportedly raising its prices yet again. Furthermore, one of the younger streaming players on the 2023 TV schedule landscape is looking to grab themselves some more cash as well.

Netflix’s Upcoming Price Increase Is Still A Bit Of A Mystery

The Wall Street Journal (via The Verge) has apparently picked up on word that after the SAG-AFTRA actor’s strike ends, the streaming pioneer will be raising its prices yet again. While there are no reports as to how much the increase will be, or when it’ll take effect, the U.S. and Canada are the first two markets that will be hit by this mysterious new roll out.

It’s an announcement that comes at a time when some subscribers might have a little more money to invest in the company. As Netflix’s DVD rental service closed last week, those who were still embracing its physical media roots might not be resistant to this undefined reality.

This is even in the face of the company’s password crackdown policy, which apparently hasn’t slowed its financial growth in the slightest. Perhaps this was also the inspiration for fellow digital content provider Discovery+ to get in on the price hike bandwagon.

A Discovery+ Price Hike Has Just Been Announced

While we don’t know exactly how much of an increase is to be expected from Netflix, we do know the details behind Discovery+’s upcoming price increase. The company issued a recent press release stating that effective immediately, its rates in the US and Canada are also going up for new subscribers.

U.S. and Canadian subscribers to the ad-free Discovery+ service will now be paying $8.99 in local currency, as opposed $6.99. Meanwhile, U.S. ad-lite subscribers will not see an increase, but Canadian users will now be paying $5.99 CAD, as opposed to $4.99 CAD.

Existing Discovery+ subscription holders in either country should expect these increases to kick in effective November 2nd. Along with this news came the following statement on the new subscription increase, and its intended mission:

All of the uncertainty surrounding the Netflix increase might be with us for the remainder of the SAG-AFTRA actors strike. Which means this might be a good time to check out what’s new on Netflix, as that future, undefined price increase may need to be justified by some. In the meantime, we’ll just have to keep our ears and eyes open for whatever word comes down from the big red N, and how much it’s going to cost to keep following what’s happening on Love is Blind.