The battle for your streaming dollars rages on as major services announce price increases and changes to their subscription plans. In a time of “streamflation,” where streaming companies drive up prices in the pursuit of profits and subscribers, Netflix, Hulu, Disney+, AppleTV+, and more are all feeling the heat.
In a recent report by CNBC, Netflix raised the price of its premium plan from $19.99 to $22.99 per month, and also introduced a lower-priced ad-supported plan for $6.99 per month. This move comes after the streaming giant saw increased profits in the third quarter, following a crackdown on password sharing which saw the implementation of stricter rules against sharing outside of a single household.
Disney also made waves by raising the price of its Hulu ad-free subscription from $14.99 to $17.99 per month and increasing the cost of its Disney+ subscription to $13.99. The company is pushing customers towards ad-supported packages as part of its strategy to maximize revenue.
But Disney and Netflix are not alone in their pursuit of increased revenue. AppleTV+ raised prices by $3 in October, while Amazon announced plans to introduce ads to its Prime Video platform in 2024, offering an ad-free experience for an additional $2.99 per month.
Other players in the streaming market, such as Max, Paramount+, and Peacock, have also raised their prices this year. While the original cost of ad-free subscriptions to Disney+, Hulu, Netflix, Max, and Prime Video would have totaled around $50 per month, the new rates would see customers forking out over $80 per month, according to CNBC.
As the battle for streaming supremacy heats up, customers can expect more price increases and changes to subscription plans in the coming years. With competition driving the price hikes, it seems that the era of affordable streaming may soon be a thing of the past.