Remember the days when your streaming bill, even with multiple services, didn’t cost as much as a cable? Well those times of affordable entertainment now seem very far away.
Streaming prices have been going up, with the most recent one hitting late last year. Major players like Disney+, Hulu, and AppleTV+ raised their prices, leaving subscribers feeling the pinch. The first half of 2023 saw sporadic increases, with Paramount+ leading the charge. Even YouTube Premium joined the party, adjusting its prices due to declining ad revenue.
But it’s not just these noticeable price jumps; there are more subtle shifts happening, like Netflix eliminating its Basic subscription option, leaving the Standard tier at N3600 a month. This move represents a 90%+ price increase since Netflix’s inception in 2007.
To understand what the streaming landscape might look like in a decade, let’s do some basic math. We’ll calculate the average annual price increase for each major streaming service and extrapolate that over the next 10 years, without factoring in inflation.
Hulu
- Starting price for mostly ad-free in 2013: N2400 a month
- Starting ad-free price in 2023: N6677.45 a month
- Potential price in 2033: ~N10954+ a month
Hulu, now under Disney’s wing, may see its pricing shift as Disney plans to bundle Hulu, ESPN+, and Disney Plus content. However, the exact pricing remains uncertain.
Disney Plus
- Starting price for ad-less content in 2019: N2122 a month
- Current ad-free price in 2023: N3318.81 a month
- Potential Premium price in 2033: ~N6414+ a month
Disney’s dramatic price increases since 2021 could indicate further shifts as it combines its various streaming apps.
Prime Video
- Starting price in April 2016: N2300 a month (Prime membership N12,000 a year)
- Current price: N2300 a month (Prime membership N27,600 a year)
- Potential price in 2033: ~N3500+ (???) (Prime Membership N42,000 a year)
Prime Video is bundled with Amazon Prime, and while it hasn’t seen a price increase in seven years, it’s not immune to future adjustments.
Netflix
- Starting price for Standard in 2013: N1500 a month
- Current price for Standard in 2023: N3600 a month
- Potential price in 2033: N5700+ a month
Netflix has witnessed substantial price hikes, and history suggests further increases.
Apple TV Plus
- Starting price in November 2019: N3,839 a month
- Price in 2023: N5,386.50 a month
- Potential price in 2033: N7243+ a month
Apple TV Plus has raised prices, and if that trend continues, it could reach new heights.
This analysis underscores how streaming services are progressively emptying our wallets. As prices inch upward every year, there’s a point where subscribers will feel they’ve hit their limit.
While tech giants like Apple and Amazon can subsidize their streaming services with their broader product portfolios, others like Netflix depend almost entirely on their content libraries. Even with these assets, they can’t entirely escape rising costs.
So, brace yourselves for a future where streaming bills could be significantly heftier. In a decade, our streaming subscriptions might not look anything like they do today.
