Streaming your favorite shows and movies has become a staple of modern entertainment, but what happens when the cost climbs higher than expected? Netflix recently announced price hikes in the U.S., which might affect how you budget for subscriptions.
If you’re worried about these changes, don’t stress! In this article of WTUPB’s, we’ll break down the new prices, explain why Netflix made these adjustments, and share simple tips to save money on streaming services so you can still binge-watch without breaking the bank.
What Are Netflix’s New Prices in the U.S.?
Netflix has adjusted its membership tiers as follows for U.S. subscribers:
- Basic Plan (for new customers): Retired in most regions. Existing users can stay on it for $9.99/month.
- Standard Plan with Ads: Stays at $6.99/month.
- Standard Plan (No Ads): Increased from $15.49 to $15.99/month.
- Premium Plan (4K & multiple screens): Increased from $19.99 to $22.99/month.
These changes highlight a noticeable jump in cost, especially for those at the Premium level. For families or groups, the extra few dollars per month could add up quickly.
Why Did Netflix Raise Its Prices?
Netflix has pointed to a few reasons for the price increases, aiming to justify the decision with the following factors:
1. Investing in Original Content
Netflix consistently invests in creating exclusive shows, movies, and documentaries like Stranger Things, The Crown, or Bridgerton.
More original content means higher production budgets. Price increases help fund these top-tier products to keep the platform competitive.
2. Growing Competition
The streaming space has become crowded with services like Disney+, Max (formerly HBO Max), Hulu, and more. For Netflix to stay ahead of the competition, improving its library and user experience has become a priority, which requires significant investment.
3. Password Sharing Crackdown
Netflix recently enforced strict password-sharing rules, requiring users outside a household to pay extra. This practice aims to convert these “borrowed” accounts into paying customers—but it also means they now need attractive content and service to justify the charge.
4. Inflation and Operational Costs
Inflation isn’t just hitting consumers—it’s also affecting businesses. To offset rising costs like server maintenance, technology upgrades, and staffing, price hikes have become one of Netflix’s solutions.
While their reasons make sense, the higher subscription fees can leave customers feeling the pinch.
Tips to Save Money on Streaming Services
Feeling overwhelmed by subscription costs? These practical tips can help you manage your spending without giving up the shows you love.
1. Reevaluate Your Plans
Ask yourself if you really need that Premium plan for multiple screens and 4K viewing. If not, consider downgrading to the Standard or Ad-supported plans and save more than $10 per month in some cases.
2. Share Costs with Family or Friends
Even with Netflix’s new household-sharing rules, you can still share accounts legally within one home. Split the bill with roommates or family members for a lower personal expense.
3. Rotate Your Subscriptions
You don’t need every streaming service every month. Subscribe to one service at a time to watch available content, then switch to another platform for fresh offerings. This rotation strategy prevents paying for services you aren’t actively using.
4. Bundle Streaming Plans
Many platforms offer bundles that save money. For instance, Disney+ offers packages including Hulu and ESPN+, giving you more bang for your buck. Check for regional offers that combine your favorite services.
5. Monitor Discounts and Promotions
Streaming platforms often run deals for first-time users or during festive seasons. Keep an eye out for special promotions to reduce your overall costs.
6. Use Free Alternatives
Consider free streaming platforms like Pluto TV, Tubi, or Peacock’s free tier. While these services do include ads, they provide access to movies and TV without any subscription fees.
7. Leverage Perks from Credit Cards
Some credit card programs include streaming perks like cashback or subscriptions as part of rewards packages. Check with your provider to see if you’re leaving savings on the table.
8. Stick to Budgeting Apps
Using apps like Truebill, Mint, or Rocket Money can help you monitor your subscription spending and ping you if you’re over budget.
Streaming Smart Without Sacrifices
While Netflix’s price change might feel frustrating, it’s still possible to balance entertainment with financial mindfulness. Use these strategies to maximize value from your streaming services while keeping costs in check.
If you’re ready to cut unnecessary expenses, now’s the perfect time to reassess your options and experiment with new ways to enjoy entertainment at home.
Which tip will you try first? Or do you have your own streaming-saving hacks? Drop them in the comments below—we’d love to hear your thoughts!