Kori Barnes 
Since the rise of streaming services over the years, the demand for the flexibility and reliability of watching the newest and hottest shows/films in the comfort of your home has skyrocketed. Netflix was the first major streaming service that dominated the scene with its incredible numbers of subscribers and revenue for its exclusive content, now all the other heavy hitting corporations and services have followed suit. However, the accessibility of popular streaming service platforms such as Netflix, Hulu, Disney+, Peacock, and more are about to get really expensive.
There will be a significant price increase for streaming services and continuous regulation changes on the platforms. USA Today recently gave a glimpse of what the very near future looks like. “Blame growing economic pressure on the streaming industry. Facing tens of billions of dollars in losses, streaming providers are flipping over couch cushions to scrounge for every last dollar, from killing password sharing to limiting simultaneous connections. And that’s going to put the squeeze on your wallet. Netflix, Disney+, Hulu and Peacock have announced price increases in recent months. The Wall Street Journal estimates the average cost of watching a major ad-free streaming service will go up nearly 25% in about a year.”
Killing password sharing has been a topic of discussion since the beginning of the year when Netflix announced the company would take it more seriously. Although they were previously aware that their Netflix users would share passwords, now it’s become an issue due to the “massive” amount of loss that the corporation is losing.
The major streaming service platforms have broken down the price increase for consumers so that they’re able to get better prepared for the price increases that are coming within a few months. Disney+ ad-free premium will increase from $10.99 to $13.99 on October 12. Hulu consumers will experience a 20% price increase by the platform raising its prices from $14.99 to $17.99 for its ad-free subscription. Netflix is offering consumers a $15.49 ad-free “standard” plan, a $19.99 ad-free premium, and low-cost ad-supported plan for $6.99. Not only are streaming services increasing their prices, but popular music streaming platforms are beginning to do the same. According to Forbes, “Disney’s new prices come less than a month after streaming giant Spotify raised its ad-free premium streaming plan by $1 per month, to $10.99, joining Amazon Music, which hiked its individual plan for unlimited listening to $10.99 earlier this year, and YouTube Music, which raised its monthly price for its individual music plan to $10.99 last month.”
As a consumer who heavily uses all major streaming service platforms, I’m not sure about my future with the companies if they continue to purposefully raise their subscription prices. What about you? Will you keep up with your current streaming plans or say bye to some of your favorite pastimes?
By Kori Barnes, University of Southern California
Instagram: @korixnicole
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