We're offering a 2-week trial of WrapPRO for $1. If you’ve been wanting to check out our full coverage, now’s the time. Greetings!It's an increasingly regular occurrence we've come to dread: the streaming price hike. Just last month, Netflix raised the rates on its various plans, following similar moves from Paramount+, Amazon's Prime Video and YouTube Premium earlier this year. But, as our Lucas Manfredi writes, consumers are hitting a ceiling when it comes to what they're willing to spend on streaming services, especially with the cost of everything else also rising. That should be a red flag for streamers, who have aggressively raised prices over the last few years in an effort to drive profit and revenue growth from those services. Some are also making those higher tier services more expensive to motivate more budget-minded subscribers to shift down to an ad-based tier, allowing them to participate in the growing advertising business. Customers have taken notice, and they're not happy. The average household is paying $69 per month for four streaming services, a Deloitte survey of more than 3,500 consumers found, with nearly three quarters (73%) of respondents expressing frustration with rising prices and 61% saying they would cancel their favorite service if monthly prices increased by $5. Netflix, which reported its first-quarter results today and noted that its revenue rose because of price increases, touched on this area, with co-CEO Greg Peters saying the customer response was "inline with expectations" and consistent with the reaction from past price hikes. "Streaming platforms are just in a tough place. They’re trying to grow revenue as the market expects them to and we’re finding that consumer spending has really plateaued,” Deloitte media and entertainment analyst Stephanie Dolan told Manfredi. Media companies are in a bind since they need the growth from streaming services to offset the still-profitable — but declining — legacy TV and cable businesses. One solution has been to bundle their services, but that long-standing practice is also starting to wear thin. Read below for more insight into what streamers can do to adapt the changing consumer attitudes. Roger Cheng Before we move on, be sure to follow me on my socials linked below for the latest updates. DMs are open for tips.    
In the midst of the price hikes, the streamers have leaned hard into bundling and ad-based tiers as a way to offer a cheaper alternative. But experts told Manfredi that they could do a lot more... 
| ||||||||||||
