Does the streaming model make any sense? Does cutting the cable cord actually make financial sense for the consumer anymore? Is paying for a streaming service (or more than one) even worth it anymore? These questions have been rattling around for a few years now, and have only gotten louder with the ongoing Hollywood strikes. Then there’s the fact that every single streamer continues to hike its prices higher and higher, the most recent being Apple TV+.
Apple’s streamer is raising its monthly subscription to $9.99 and its annual plan to $99, according to The Hollywood Reporter. This comes just a year after they raised the price from $4.99 to $6.99. “We are focused on delivering the best experiences possible for our customers by consistently adding high-quality entertainment, content, and innovative features to our services,” Apple said in a statement (per THR). “Since launching four years ago, Apple TV+ has made history for streaming services by crossing major milestones in a short span of time, thanks to its extensive selection of award-winning and broadly acclaimed series, feature films, documentaries, and kids and family entertainment.”
Most of the streaming services you’ve heard of have experienced a price increase over the last year. Earlier this month, Netflix raised its ad-free tiers a few bucks each. October also saw a promised 20% price increase on Hulu’s ad-free version, and Disney+’s ad-free kicked up by three dollars. In September, Prime Video announced it would add ads, and create a more expensive ad-free tier. 2023 also saw price increases at Max, Discovery+, Paramount+, and YouTube Premium.
There’s a common denominator for a lot of these, which is the return of the ad. The promise of streaming was that there wouldn’t be any commercials, and now commercials are essentially back. Now the only thing to differentiate streamers from broadcast is the content, which varies wildly in quality and can be disappeared from the catalog on a whim. With the length of the writers and actors strikes, there will likely be a lull in programming that the streamers can release in the next year that reflects the work stoppage, which may cause consumers to question why they’re coughing up that much cash in the first place. It seems like the bubble will eventually have to burst; but until then, clearly, streaming services will continue to see what kind of money they can wring out of their loyal viewers.