Rising prices in streaming subscriptions: Are we paying more for less?

Should we cancel our subscription? Over the past few years, streaming services like Netflix and Disney+ have steadily raised their subscription prices leaving subscribers wondering if they’re getting what they paid for and if it is worth their money. Initially, this was a cheap, affordable alternative as opposed to cable TV, but now with multiple streaming platforms following this trend, it leaves questions about whether the quality of what they stream still satisfies their consumers. For instance, Netflix has increased their prices throughout 2023 and 2024, with them releasing a membership plan with supported ads for just £4.99, which has also been implemented this year. This is due to increased competition and to tackle down on password-sharing, so that they can bring in more subscribers. As a subscriber, Netflix’s price hikes have led to an ad-tier subscription that has generated  personal frustration as it was just £5.99 ad-free in 2020. This represents an 83% increase, making subscribers wonder if they can still justify these new prices. 

However, according to Statista.com, the number of people who paid for these subscriptions in the third quarter of 2020 was 15,240 people. Whereas,  in 2024, 17,100 people have paid for these subscriptions. Although, at the start of 2022, before the ad-tier subscriptions 17,290 paid only £5.99 to watch shows on Netflix. 

 A significant factor subscribers contemplate is whether the content they have justifies the rising prices. Although Netflix has continued to release content, it has also removed content from its platform that has raised questions to their consumers of whether they are paying more but receiving less. The content is a question of whether or not it can still meet their standards. Many are now pondering whether it’s time to cancel their subscription or downgrade their subscriptions as streaming platforms evolve. As a fellow subscriber, one thing that has frustrated me is the removal of some of my favorite content like ‘How to get away with murder?’, which is likely to have been removed due to licensing issues. As well as the cancellation of prominent shows like ‘The Society’ and ‘Anne with an E’ that has left me to wonder if Netflix’s subscription is worthwhile. 

Statista: https://www.statista.com/statistics/529734/netflix-households-in-the-uk/