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Inflation is everywhere, from building materials to hamburgers. It’s also hit streaming services hard. Platforms like Netflix, Hulu, Disney+, and Amazon Prime have all seen rate increases since 2023, a combination of a tougher economic market and distributors seeing major losses due to the exorbitant cost of acquiring content. Max’s House of the Dragon, for example, cost parent company Warner Bros. Discovery $200 million for its first season in 2022, roughly double the $100 million laid out for a season of its predecessor, Game of Thrones; meanwhile, Amazon spent $465 million to produce The Lord of the Rings: The Rings of Power.
Recently, David Nield of Lifehacker broke down how much streaming services have increased their monthly subscription fees for ad-free plans and premium options since 2023 to help offset the cost of such extravagant entertainment. Call it the Tolkien tax.
Platform | Price in 2023 | Price in 2024 |
|---|---|---|
Netflix | $19.99 | $22.99 |
Amazon Prime | $8.99 ($0 if Prime Member) | $11.99 |
Hulu | $14.99 | $17.99 |
Disney+ | $10.99 | $13.99 |
Max | $14.99 | $16.99 |
Peacock | $11.99 | $13.99 |
Paramount+ | $4.99 | $7.99 |
Apple TV+ | $6.99 | $9.99 |
YouTube TV | $64.99 | $72.99 |
ESPN+ | $9.99 ($6.99 in 2022) | $10.99 |
Overall, it would have cost you $167 per month to subscribe to all 10 of these streamers in 2023. In 2024, it’s $200, or an increase of roughly 20 percent.
Most of these services have multiple subscription tiers. Netflix, for example, has an option for $15.50 per month, but you can’t stream in 4K and only two screens can be used simultaneously. Amazon’s Prime video is still available for $8.99—provided you can endure ads. You can also bundle Hulu, Disney+, and ESPN+ for $24.99 per month, a savings of $8, but ESPN+ will have ads.
Bundling appears to be a way to soothe consumer concerns while attracting new subscribers. Streaming rivals Disney+/Hulu and Max recently partnered to announce a plan that includes all three services with or without ads, though pricing has yet to be announced. Comcast is offering a bundle with Netflix (ad tier), Apple TV+, and Peacock for jut $15 monthly, but only for customers of its Xfinity television and internet service.
Historically, these price increases may not sting as much as you might think. When Netflix launched its streaming service in 2007, subscribers paid $18 to have three DVD rentals out at a time and had just 18 hours of streaming capability.