WASHINGTON D.C. (DC News Now)- Many customers of streaming services will be paying more for their entertainment this fall.
Following years of losses dating back to the pandemic amid rapid investment in projects, streaming services will now look to turn profits. The Journal reports that since 2020, major streaming services report $20 billion in losses.
Disney, which significantly raised its prices last year, is eying yet another jump by October. Disney+ and Hulu subscriptions will increase by at least 20%.
HBOMax and Peacock have both seen price hikes of $1.
Moderately priced options are dwindling, as Netflix eliminated its cheapest ad-free plan, leaving its $15.49 membership the cheapest ad-free option.
In a statement to The Hill, Dan Goman, the CEO of Ateliere Creative Technologies said that the era of low-cost streaming services is coming to an end.
“We’re witnessing a contemporary iteration of cable systems, now in digital format — and a normalization of pricing for streaming channels,” he said. “Unfortunately, for the consumer, this means that the free ride is over.”
Consumers can navigate “streamflation” by gaming their credit card choices and phone plan selections, though.
The AMEX Blue Cash Preferred card offers 6 % cash back on those subscriptions. And, some Chase cards come with rewards on streaming providers including Netflix and Hulu.
T-Mobile offers a plan that includes a standard Netflix subscription, while Cricket Wireless gives you access to HBOMax.