Streaming subscriptions make up most of our viewing needs. From Netflix to Hulu, Disney Plus to Max, there are dozens of streaming services that we subscribe to have access to thousands of titles. But after so many years, streaming subscription prices have started to climb drastically.
And the changes that have been implemented are causing more concern than comfort anymore, like the password sharing crackdowns. So why are streaming subscription prices rising? Read on to find helpful information on the recent changes and what you can expect for the future of streaming.
Related: Netflix Password Crack Down Has Started: What Does It Mean?
Why Do Streaming Subscription Prices Increase?
While Netflix is not the first streaming platform that has been brought to viewers, they are the start of a lot of trends. That being said, when Netflix begins their price increases, so will the others. The same goes for the password crackdowns that have been happening throughout the subscriptions.
Unfortunately, then, if Netflix continues to increase, so will the others. Thankfully, not many streaming subscription prices have reached the outrageous prices of Netflix, which currently has its Premium Plan set at $22.99.
But it’s not just Netflix that causes these problems. The price increase has caused many once-loyal watchers to leave. Because of this, the platforms have to offset the loss by increasing their membership fees. Thankfully, several platforms have turned towards tier subscriptions, with the ability to get a cheaper plan through ad-supported streaming. But as many viewers are opting for that option, the premium subscriptions have to bear the brunt with higher fees.
The gap between premium and ad-supported subscriptions is growing by the year. The fact that so many turned to streaming platforms to get away from commercials and are now seeing them again is disappointing, but it might be the only option if the prices keep rising.
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Are Streaming Platforms Still Worth It?
Even with the price hikes, streaming services can still be worth it for many. While you might need to cut back on how many you’re subscribed to, they still have a lot of benefits. Cable still requires you to have a contract, while subscription services let you cancel at any time.
This is perfect if there’s a show on Netflix that you can watch within a month, and then switch over to another platform. Cable does have higher channel counts, and with streaming platforms removing titles every month, it can be frustrating. But the flexibility is just too hard to beat.
And let’s not forget about the price. On average, cable options like Spectrum, Xfinity, and Optimum are a minimum of $40 to $110 a month. So while the prices are increasing on streaming platforms, you can’t beat the affordability of some of the platforms and the ability to switch between them each month.
The Current Streaming Subscription Prices
- Netflix: The ad-free Basic plan is $15.49, and their most expensive plan, the Premium Plan, is $22.99. There’s been mention of further increases in 2024.
- Hulu: The ad-free plan is $17.99 a month, and their expensive plan, the Hulu+Live TV package, is $76.99 with ads, or $89.99 without.
- Disney Plus: The ad-free plan is $13.99, but they have a variety of ad-ons that can up the price including Hulu, ESPN+, and more for a pricey subscription of $24.99.
- Prime Video: Prime Video is $8.99, or $14.99 for a general Prime subscription which includes Prime Video.
- Paramount Plus: Paramount Essential starts at just $5.99 with ads, but with Showtime it’s $11.99. The price should go up in August 2024 for the Essential being $7.99 and the Showtime addition being $12.99.
- Max: As of June 2024, the ad-free package is $16.99, but the 4K ad-free option is $20.99.
- Peacock: After the August 2024 price hikes, the ad-supported Premium plan will be $7.99 instead of $5.99, and the Premium Plus will be $13.99 instead of $11.99.
- ESPN: A basic subscription is $10.99, but with added bundles with Disney, it can be as high as $24.99.
- Discover: The basic plan is $4.99, but ad-free is $8.99.
- Apple TV: The Apple One bundle, including Apple TV Plus, is $19.95, or the basic subscription is $9.99.
The Future of Streaming
Unfortunately, most of us haven’t let go of our streaming platforms. And because of this, streaming services are going to continue to raise the price until they start seeing a drop in their viewers. The future of streaming is going to cost us, which negates what streaming subscriptions start out to begin with.
Streaming platforms like Amazon Prime Video and Netflix began to help people watch shows without the huge cost of cable. And now it looks like we’ll be spending the same amount soon with all of these changes. Even though the recent price increase was just in October, expect more increases in the year 2024 and beyond.
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Conclusion
Streaming subscription prices are still increasing with no end in sight. After so many years of having a few at a time to binge-watch your favorite shows, it might be time to select your top one or two. The price of streaming services is becoming absurd, but compared to the price of cable, it’s hard to cancel our subscriptions.
That being said, you might have to anticipate more increases in the future but don’t be afraid to sit back and watch those ads. It’s always a good time to stretch and grab some more water because the cost of ad-free subscriptions is just not worth it.