Almost every big streaming service is getting more expensive

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.