According to the latest quarterly earnings report released by Netflix (NFLX.US), in order to improve profitability, the company announced that it will increase the subscription prices of its basic plan in the United States from $9.99 to $11.99, and the premium plan without ads from $19.99 to $22.99. The prices for the plan with ads and the standard plan will remain unchanged at $6.99 and $15.49, respectively.
In fact, not only Netflix, but all the streaming giants have raised their prices in 2023. The prices of the ad-free subscription plans for Netflix, Disney+, Hulu, Max, and Prime Video have now accumulated to $80 per month, a 60% increase from the previous $50 per month.
Hulu
This summer, Disney (DIS.US) raised the monthly fee for Hulu by 20%, from $14.99 to $17.99. Disney CEO Bob Iger stated that the increase in the subscription price for the ad-free plan was to encourage customers to switch to the plan with ads.
Max
As early as January this year, the streaming platform formerly known as HBO Max increased the monthly fee for its ad-free plan from $14.99 to $15.99. In May, when the platform merged with Discovery+ to become Max, a new plan called &#34;Max Ultimate Ad Free&#34; was introduced. The subscription price for this plan is $19.99 per month, which not only excludes ads but also provides users with more 4K Ultra HD movies and shows. It allows users to watch on four devices simultaneously and download 100 movies or episodes for offline viewing.
Disney+
As the home of Marvel, Star Wars, and Pixar, Disney raised the subscription price for its ad-free plan from $10.99 to $13.99 in October. The price for this plan was already increased by $3 in December 2022.
Prime Video
Although Prime Video is free for Amazon (AMZN.US) Prime members (annual fee of $139 or monthly fee of $14.99), the standalone subscription price for Prime Video is $8.99 per month. In September, Amazon announced that starting next year, it will soon introduce a limited number of ads in its TV shows and movies. Users who do not want to watch ads will need to pay an additional $2.99 per month.
Paramount+
In January of this year, Paramount Global announced the merger of its Showtime television network and streaming service with Paramount+, integrating Showtime's streaming service completely into Paramount+. Last month, the subscription price for the premium package of Paramount+, including Showtime, increased from $9.99 to $11.99, while the subscription price for the basic package without Showtime content increased by $1 to $5.99. Bob Bakish, CEO of Paramount Global, also stated that there will be another price increase in 2024 or 2025.
YouTube Premium
Even the ad-free package of YouTube was not spared from a price increase. This service allows for an ad-free viewing experience and provides access to YouTube Music and the ability to download videos for offline viewing. The price of this service has been raised from $11.99 per month to $13.99.

NFLX

Not only Netflix, but all streaming giants have raised their prices in 2023.

Not just Netflix! All major streaming platforms have raised their prices this year.