Americans love their entertainment, video streaming to be more specific.
A new report is shedding light on how American citizens are spending close to $1000 per year on subscriptions to get a video streaming device of their choice.
Meanwhile, it’s not a bed of roses, especially considering how more than 50% of all subscribers have spoken out about the mega rise in pricing for these services. And actions speak louder than words as they continue to cancel one of these streaming subscriptions. But the overall spending in this regard keeps on rising.
When we look at the price comparisons for streaming services seen between last year and this, it’s quite a difference and must be noted. Every year, there is a constant rise in the price of these subscriptions and one of the first to witness this was Apple TV+.
The leading iPhone maker was the first to mention how there was a stark difference in pricing observed when compared to prices seen in October of 2022. It rose from $5 to $7, which is a massive 40% price rise.
Meanwhile, we saw Disney also follow up with a startling 25% rise in pricing for its streaming subscriptions at the same time as Apple TV+ where it underwent a 75% rise in just a one-year timespan that had people talking. This included two price hikes that many found to be shocking, not to mention unacceptable.
Streaming services and a mention of Hulu is a must as it raised its costs for users' subscription services, providing ad-free tiers with a 20% increase. The price tags went from $15 to $18 in no time. And then we had Warner Bros which similarly raised prices from $15 to $16 for HBO Max.
On the other hand, Netflix caused a drop in pricing of its basic tier for those users who were new or switching in from other services.
One report generated in the past summer showed how television streaming costs were overtaking cable expenses. Meanwhile, another new survey by Bango showed how the average American subscriber pays up to $1000 each year ($924 to be exact).
Average American subscribers are jetting out $924 each year in the name of subscriptions which is close to $77 each month. Meanwhile, 25% of those surveyed paid $100 every month and around 5% of them paid $200 each month.
Three more factors come into play. Firstly, a few of the services are busy rolling out ads to the basic tiers that force people to go for an upgraded version where they don’t have to deal with the annoyance of their favorite television shows being interrupted by commercials.
Around 57% of all subscribers continue to cancel out subscriptions, thanks to the large hikes in pricing. This is where 36% continue to upgrade subscriptions after rolling out ad-supported variants.
Secondly, many have opted to take the opposition route where they are getting rid of tiers funded by ads, leaving just a single option to attain that happens to be the most expensive one of the lot.
Last but not least, Netflix is leading the trend where plenty of streaming services continue to crack down against the acts of password sharing, causing more users to open up accounts in the first place.
Clearly, the goal of streaming services is to mint out the greatest revenue at the expense of the customer. And that makes sense because when the demand is so high, they’re bound to be successful at getting the rate they want.
Image: Digital Information World - AIgen
Read next: YouTube Triumphs To Become Top Streaming Service Across The US Again With A Consecutive 12 Month Winning Streak
A new report is shedding light on how American citizens are spending close to $1000 per year on subscriptions to get a video streaming device of their choice.
Meanwhile, it’s not a bed of roses, especially considering how more than 50% of all subscribers have spoken out about the mega rise in pricing for these services. And actions speak louder than words as they continue to cancel one of these streaming subscriptions. But the overall spending in this regard keeps on rising.
When we look at the price comparisons for streaming services seen between last year and this, it’s quite a difference and must be noted. Every year, there is a constant rise in the price of these subscriptions and one of the first to witness this was Apple TV+.
The leading iPhone maker was the first to mention how there was a stark difference in pricing observed when compared to prices seen in October of 2022. It rose from $5 to $7, which is a massive 40% price rise.
Meanwhile, we saw Disney also follow up with a startling 25% rise in pricing for its streaming subscriptions at the same time as Apple TV+ where it underwent a 75% rise in just a one-year timespan that had people talking. This included two price hikes that many found to be shocking, not to mention unacceptable.
Streaming services and a mention of Hulu is a must as it raised its costs for users' subscription services, providing ad-free tiers with a 20% increase. The price tags went from $15 to $18 in no time. And then we had Warner Bros which similarly raised prices from $15 to $16 for HBO Max.
On the other hand, Netflix caused a drop in pricing of its basic tier for those users who were new or switching in from other services.
One report generated in the past summer showed how television streaming costs were overtaking cable expenses. Meanwhile, another new survey by Bango showed how the average American subscriber pays up to $1000 each year ($924 to be exact).
Average American subscribers are jetting out $924 each year in the name of subscriptions which is close to $77 each month. Meanwhile, 25% of those surveyed paid $100 every month and around 5% of them paid $200 each month.
Three more factors come into play. Firstly, a few of the services are busy rolling out ads to the basic tiers that force people to go for an upgraded version where they don’t have to deal with the annoyance of their favorite television shows being interrupted by commercials.
Around 57% of all subscribers continue to cancel out subscriptions, thanks to the large hikes in pricing. This is where 36% continue to upgrade subscriptions after rolling out ad-supported variants.
Secondly, many have opted to take the opposition route where they are getting rid of tiers funded by ads, leaving just a single option to attain that happens to be the most expensive one of the lot.
Last but not least, Netflix is leading the trend where plenty of streaming services continue to crack down against the acts of password sharing, causing more users to open up accounts in the first place.
Clearly, the goal of streaming services is to mint out the greatest revenue at the expense of the customer. And that makes sense because when the demand is so high, they’re bound to be successful at getting the rate they want.
Read next: YouTube Triumphs To Become Top Streaming Service Across The US Again With A Consecutive 12 Month Winning Streak
