Netflix's latest price hike highlights what's wrong with streaming

Reading about Netflix’s latest price increase made me nauseous. No one needs to pay more out of pocket right now, and I don’t equate Netflix’s content growth as added value that justifies an increase.

Streaming has been out of control for a while now, but this latest Netflix increase was enough to make me cancel my subscription.

Taken in a vacuum, it may not seem like a big deal. It’s an extra dollar a month across the board, whether you are at the ad-supported tier or the best Netflix offers.

Still, the streaming bills are piling up, and I’m not getting anywhere near equivalent value back in entertainment — and that’s the problem.

The NBA playoffs and the start of the MLB season have compounded the issue, and the only way out is a path that’s no longer open.

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I'm in love with this underrated streaming platform that costs absolutely nothing

Who needs price hikes anyway?

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By  Tom Bedford

Netflix is branching out with its content, but I don’t care

Not everyone wants what Netflix is offering

To be fair, Netflix hasn’t been standing still during these price hikes. It’s promised new investments in original content and has started offering video podcasts.

But not everyone with a Netflix subscription will benefit. I rarely watch any of the shows, and I doubt I’ll go to Netflix for my podcasts, so the increase didn’t make sense for me.

It wouldn’t be such a problem if it weren’t part of a broader issue.

It would’ve made much more sense for Netflix to adopt a YouTube TV-like approach.

YouTube TV has also gotten way too expensive, but at least it’s broken down into sections. I still pay for it because of the live sports, but now I can select that package instead of paying for a bunch of content I’ll never watch.

It wouldn’t have killed Netflix to do the same.

If you only want movies and original content, it’s one price; if you’re interested in its growing sports portfolio or podcasts, you can add those for an extra fee.

The problem is, Netflix has zero incentive to do that.

People aren’t leaving Netflix

Churn is low despite price increases

Multiple sources report that Netflix’s churn remains low, despite the price increases. Customers aren’t leaving in the numbers you’d expect, and there are several reasons for that. Plenty of people love Netflix shows.

Whatever I think about the service, it does have plenty of hits, and I’m sure there are more on the way. I have a two-year-old daughter, and I’m told their children’s section is impressive, although I haven’t used it yet.

Still, I can’t help but think there is a portion of users who, like me, have had Netflix for over 20 years and refuse to move on.

Yes, prices are rising everywhere, and I’m sure it costs Netflix more to produce content. However, if reports are accurate and the company brought in $1.5 billion in ad revenues off people already paying monthly fees, excuse me for not shedding any tears.

The company appears to make money either way, and we’re the only ones who lose.

Streaming is an expensive mess

Being a sports fan is difficult

It wouldn’t be such a problem if it weren’t part of a broader issue.

When streaming services were all around $10 to $12 a month, I never paid any attention to them. That’s no longer the case, and I’ve had to make some hard budgeting decisions. Perhaps that’s a good thing, and I doubt I’ll miss Netflix.

Even if you enjoy the value Netflix provides and keep it, I’m sure there are half a dozen streaming services you could consider cutting.

Unfortunately, it’s not as simple as reconnecting the cord anymore, even though the monthly costs are similar to my last DirecTV bill.

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I’m a sports fan, and it’s been almost impossible to find all the NBA playoff games at night. You need Amazon Prime Video and Peacock to watch them all, in addition to YouTube TV or Hulu, which gives you access to network TV for games on ESPN and ABC.

Baseball isn’t any better, with exclusive games on Amazon Prime Video, making it harder for hardcore fans to watch without paying. If you want to watch all the NFL Christmas Day games, you’ll still need Netflix.

The problem is getting worse, not better.

It appears we just have to deal with it

I wish there were a cleaner solution for people looking to save a little money on streaming. The only thing I can suggest is to take a long, hard look at the services you actually use.

Netflix has defended previous price hikes by saying its customers get more value out of the service, and maybe that’s true.

But there are only so many hours in the day, and whatever you watch over there means you aren’t watching something else.

We were all in such a big hurry to cut the cord, and it slowly turned into an expensive hassle.