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Prices for streaming services continue to rise
It's getting a lot more expensive to cut the cord and stream your favorite shows. FOX 5 NY's Stephanie Bertini takes a look at how some services are raising their prices in 2024.
NEW YORK - Starting January 29th, Amazon Prime members who prefer to watch their favorite shows without interruptions from commercials will need to pay an additional $2.99.
This change is part of a broader industry trend, with major streaming services like Hulu, Netflix, and HBO now charging more for ad-free subscriptions.
Experts say the change ultimately comes down to money.
"Because the cost to produce and license content is so high," said streaming media analyst Dan Rayburn.
The shift in streaming services' strategies mirrors a familiar pattern in the evolution of television.
"I think right now what we are seeing in the streaming service is very similar to cable. I like to describe streaming as the new pay TV bundle," Rayburn said.
For consumers, the growing number of streaming options and their associated costs can be overwhelming. Experts advise viewers to carefully consider which content they wish to stream and to double-check they are not inadvertently paying for the same content across multiple services, including their existing cable subscriptions, if applicable.
In a notice to its customers, the Amazon Prime team stated, "This will allow us to continue investing in compelling content and keep increasing that investment over a long period of time. We aim to have meaningfully fewer ads than linear TV and other streaming TV providers."