Over the last decade, millions of consumers have joined the "cut the cord" movement, switching from traditional cable TV to streaming services for their entertainment. What started as a cost-effective alternative has evolved into a fragmented marketplace, requiring families to subscribe to multiple platforms to access their favorite shows and movies. The result? Once a budget-friendly option, streaming is now rivaling or even exceeding the costs of traditional cable packages.

Why Streaming Costs Are Rising

In 2023, American households faced significant price hikes across major streaming platforms. According to a November 2023 article in Variety titled "Price Storm: Why Major Streaming Services Have Hiked Rates This Year," subscription prices rose an average of 23%, surpassing the inflation rate. For example:

• Netflix increased its subscription fees yet again.
• Apple TV+ implemented its first price hike, a dramatic 40% increase.
• Paramount+, Peacock, and Max raised their monthly rates by about 20%.

These rising costs leave many families grappling with managing their entertainment budgets without sacrificing the variety of content they enjoy.

Managing Your Subscriptions

The first step in dealing with rising streaming costs is evaluating your subscriptions. Take inventory of all the services you subscribe to and their monthly fees. Then, assess how often you use each platform.

1. Cancel or Pause Unused Subscriptions: If you find you're only watching Disney+ occasionally or rarely using Hulu, consider canceling or pausing those services. Most platforms allow you to pause and resume subscriptions, letting you save money while still accessing your favorite shows when they are released.
2. Rotate Subscriptions: Instead of maintaining multiple active subscriptions, rotate them. For example, keep Netflix and Max for a few months, then switch to Disney+ and Hulu for the next few months.
3. Focus on Value: Look at the price-to-content ratio. Cancel the most expensive service and prioritize platforms offering the best value for your needs.

Explore Free and Ad-Supported Options

Free and ad-supported streaming options are increasingly popular as people look to save money. Consider the following:

• Ad-Supported Tiers: Many platforms, including Hulu and Spotify, offer cheaper or free tiers with ads. While ads can be a nuisance, they're a small price for significant savings.
• Free Streaming Services: Platforms like Pluto TV, Tubi, Roku Channel, and Freevee offer a range of movies and shows at no cost.
• Library Access: Many public libraries and educational institutions provide free streaming options, like Kanopy or Hoopla Digital, alongside DVD rentals.

Look for Deals and Bundles

Bundling services or taking advantage of promotional offers can significantly reduce your streaming costs:

• Mobile Carrier Bundles: Some mobile plans, like T-Mobile's Go 5G Plus, include streaming services like Netflix or Apple TV+ at no additional cost.
• Holiday Deals: Black Friday and other seasonal promotions often include discounts on annual subscriptions for platforms like Hulu, Disney+, and Peacock.
• Combine Services: Bundled packages like the Disney+ bundle (which includes Disney+, Hulu, and ESPN+) can offer substantial savings compared to subscribing to each service separately.

Final Thoughts

While streaming services provide unparalleled access to entertainment, their rising costs have made them a growing burden for many households. The key to managing these expenses is proactive planning. Evaluate your subscriptions, explore free and ad-supported options, and look for discounts and bundles.

Ultimately, you don't need to sacrifice your entertainment entirely. With thoughtful budgeting and a willingness to adapt, you can enjoy the shows and movies you love without breaking the bank. And if you're still paying for cable and streaming services, consider choosing just one to simplify your expenses and save even more.