Many people have already cut the cable cord to save money, but now those TV streaming bills may also be adding up.
Between Netflix, Disney+, Hulu, YouTube TV and other services, your living room can become an endless stream. However, many of those services have raised rates in 2023, and more hikes may be to come.
Lori Pieper is getting tired of streaming TV price hikes and wonders if it is time to drop a service or two.
She is debating what to do with Disney+, which started at $7 a month but recently jumped to $14 for the ad-free version.
“That really surprised me,” she said.
With the addition of other services, Pieper says it’s all adding up.
“Netflix, which is over $16, and then I have (Amazon) Prime,” she said.
Pieper dropped her cable package five years ago to save money, but now she is paying almost the same price for her streaming services.
“I remember when cable was like $80,” she said. “I said I am not paying that kind of money for TV, and here I am again.”
Americans pay, on average, $73 a month for their streaming services, according to Statista.
The data website reports that more than 182 million Americans now use streaming services. That’s more than half of the U.S. population shelling out an average of $73 a month for services like Netflix, YouTube TV, Sling TV and Hulu.
Those costs add up fast.
Marie Rossiter, who writes for the Scripps-owned sites Simplemost and Don’t Waste Your Money, has been researching streaming fatigue, and recently wrote a report on ways to save money.
“All of a sudden you’re looking at your bill,” she said, “and you say where’s all of my money going?”
Rossiter said people should take an inventory of what they watch and what streaming services they actually use most when deciding what to cancel.
After you take an audit, she suggests you cancel the services you barely use.
Next on the savings playlist, she says, is to take advantage of free streaming services.
Ad-supported services that offer content at no charge include Tubi, Freevee and Pluto.
Rossiter also suggests looking into bundling options.
“Your budget is worth investing that time,” she said.