The era of affordable streaming may be coming to an end as prices for popular video streaming services continue to rise, according to research by Deloitte. With price increases for apps like Amazon Prime Video, Netflix, Hulu, and HBO Max, the cost of subscribing to multiple streaming services can now rival that of a traditional cable package.
For example, Amazon Prime Video’s ad-free service now costs $12 a month, up from $9, while Netflix’s premium plan for four devices increased to $23 a month from $20. Disney raised the price of Hulu to $18 a month from $15, and HBO Max now costs $16 a month, up from $15. If a household subscribes to all these services, they could be paying around $70 a month, similar to a basic cable package.
Furthermore, Disney recently announced plans to crack down on password sharing, and Netflix shareholders were advised to expect more price hikes in the future. This trend of rising costs for streaming services may make it challenging for consumers to save money compared to traditional cable bundles.
Despite the potential cost savings, managing multiple streaming subscriptions can be difficult. Companies like Netflix and Hulu make it easy to subscribe but often lack reminders for upcoming payments or renewal notices. This lack of transparency can lead to users staying subscribed longer than they intended.
To combat this, experts recommend setting up reminders for subscription renewals, keeping track of services being paid for, and disabling automatic renewal to maintain control over billing. By being more mindful of subscription management, consumers can potentially save money and avoid unnecessary expenses.
As the landscape of streaming services continues to evolve, it’s essential for consumers to stay informed and proactive in managing their subscriptions to avoid overspending on entertainment options.
