Almost every big streaming service is getting more expensive
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.
- 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.