With nearly 50 million Americans having already abandoned cable TV, the shift to streaming services as the primary source of entertainment is unmistakable.
However, this transition raises questions about the cost implications of “cutting the cord”.
Recent price hikes across various streaming platforms have sparked debates on the cost-effectiveness of streaming versus traditional cable.
Reports show that monthly cable costs vary widely, with figures ranging from $83 to $125, considering additional gear and fees. These variations make it challenging for consumers to directly compare the costs of cable and streaming services.
Price Increases in Streaming Services
Leading streaming platforms like Apple TV+, Netflix, Disney+, and Hulu have all raised their subscription fees recently.
Netflix, in particular, increased the charges for both its Premium and Basic options, reflecting a broader trend of rising costs in the streaming sector.
The total expense for a consumer subscribing to a broad range of streaming services can be significant. If one were to subscribe to the most expensive plans of popular services like Netflix, Disney+, Hulu, and others, the monthly cost could reach around $147.
This estimate includes individual service costs but not the full Amazon Prime membership, which offers additional benefits beyond Prime Video.
With information from Fox Business.