Back in 2019, streaming services were a bargain, offering free options and low prices.
Fast forward to today, and big names like Netflix, Hulu, Disney Plus, and others have hiked up their prices, making streaming more expensive.
Netflix has been regularly raising its prices, setting the trend for others to follow. They wait to see if Netflix’s changes work out before making similar moves.
Industry expert Erickson said to Theverge.com:
“What Netflix does is a bellwether for what a lot of other companies are going to do. They’re going to see if Netflix can validate a price raise, a password crackdown, or some other major change first. If Netflix is doing it, it makes it a bit more socially acceptable for the other services.”
Netflix believes people are willing to pay extra money for their streaming service because it works really well and hardly ever has problems.
This means they think their service is worth the higher price.
In contrast, services like HBO Max and Discovery Plus maintain more competitive pricing for their best plans, acknowledging they don’t quite match Netflix’s level of reliability and user-friendliness.
To counter this, they are implementing strategies like restricting password sharing (Like Netflix did) and introducing ad-supported plans to attract more subscribers.
Additionally, they are diversifying their offerings with live sports packages and live streaming, broadening their content range but also inflating subscription costs.
So What I’m Doing?
I’m not going to pay these high prices, no matter what they offer!
The surge in subscription costs, while understandable from the streaming companies’ perspective, but seems it has become a breaking point for me and many other consumers.
It’s not just about the prices themselves, but the continuous upward trajectory they seem to be on. It feels like we’re caught in an endless cycle of paying more and more for the same or even less content.
So, I’ve decided to switch to some good ad-supported streaming services like Tubi, Pluto TV, or Peacock. Instead of subscribing to multiple premium services that could cost a lot each month, I’m mixing and matching.
For example, I have a couple of premium subscriptions for exclusive content and reliability, but for the rest of my viewing needs, embraced ad-supported services.
To be fair, Apple TV+ doesn’t fall under my complaints radar, as I’ve been fortunate to enjoy it for free since 2019.
I recently used a low-cost year-long subscription that I got before the initial price increase. After that subscription expires, I’ll likely switch it on and off as new shows become available.
The streaming landscape is changing fast, and it’s smart to explore budget-friendly options like ad-supported services while still enjoying quality content.
After all, why pay for a premium plan when a more affordable, ad-supported alternative provides much of the same content without emptying your wallet?