What do they say about no good deed goes unpunished? Tell that to Netflix. The streaming service king reportedly is planning a price hike for anyone who has an “ad-free” account once the actors strike has been officially settled.
A Wall Street Journal report cited anonymous sources as saying the streaming service is "discussing" raising subscription prices in various markets, with the U.S. and Canada being the first two. Neither Netflix's new rates nor their implementation date were known to the Journal.
Dan Goman, CEO & Founder of Ateliere, says that he saw this coming. “The recent decision marks a pivotal shift from chasing subscriber growth to aiming for financial sustainability in the streaming industry,” he told ConsumerAffairs. “This move, amidst growing industry pressures and the trend towards bundled offerings, signals a maturation phase.”
Mind you, Netflix is not the lone offender here.
NBCUniversal increased its Peacock price this summer, as did Paramount Global for its newly merged Paramount+ With Showtime package. In addition, Warner Bros./Discovery+ ads-free price increased by nearly 30%.
The standalone premium tiers of Disney+, Hulu, and ESPN+ will be raising prices on Oct. 12. TechHive's Jared Newman says those changes will break down like this:
Disney+:
With ads: Still $8 per month
No ads: $14 per month or $140 per year (was $11 per month or $110 per year)
Hulu:
With ads: Still $8 per month or $80 per year
No ads: $18 per month (was $15 per month)
ESPN+:
$11 per month (was $10 per month)
What’s our way around this?
Goman says that where streaming is headed is straight toward the land of bundling. Then there's the "cancellation" game that ConsumerAffairs found. And we're likely to see new carrots being dangled like the one that Mastercard and Peacock are offering that gives Peacock Premium+ a $5 statement credit each month.
However, the simplest way for us to save a dollar or two is suck it up and live with a few ads. In the U.S., Netflix offers a $6.99/month ad-supported plan; Hulu for $7.99/month; or the Disney Bundle Duo Basic for $9.99/month where subscribers can access Disney+ and Hulu with ads. Plus, there are a ton of completely free ad-supported streaming networks.
Photo Credit: Consumer Affairs News Department Images
Posted: 2023-10-10 17:50:55
