Jul 25, 2023 - Economy

Almost every big streaming service is getting more expensive

Change in subscription prices for select streaming services from launch year to present
Data: Axios research; Chart: Axios Visuals

Every major subscription streaming company has increased its prices in the past year in an effort to address Wall Street's push for profits.

Why it matters: The average consumer is willing to pay roughly $42 monthly for streaming services, according to a recent survey. With prices rising, more consumers are being forced to lean into cheaper ad-supported options.

Driving the news: Spotify said yesterday it would increase the price of its premium subscription plan by $1–$2 — the first price increase since Spotify Premium launched more than a decade ago.

  • The change comes days after YouTube Premium Music and YouTube Premium Video both increased their prices.
  • Peacock last week also introduced its first price hike since launching in 2020. It follows most other streamers who have similarly hiked prices in the past year.
  • Netflix said last week it would make its cheapest ad-free plan unavailable to users in the U.K. and U.S., forcing them to take on a much more expansive plan as their cheapest ad-free option.

By the numbers: The median increased price among major video streaming services and audio streaming has been $2 and $1, respectively, over the course of their lifetimes.

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