Introduction
Throughout this lockdown there was one thing that we could always turn to , and that was our streaming services. When we couldn’t see family or friends we knew that with a couple of clicks there would be a new song, tv series, or movie always ready for you. But now that we are out of the lockdown it seems like everywhere we look inflation is raising its nasty head.
First it was Netflix saying that they were going to crack down on people using passwords as a family if they aren’t in the same house. Then it turned into Netflix testing out ad supported viewing… which is pretty much why we loved Netflix and hate TV…. So now Netflix is basically TV? Then it was some of the music services talking about costing more money… and that is what we will go over here. We have all been in these spots and with wearable tech you could always access a podcast or movie clip.
Apple raising its prices
It was reported that Apple has decided that they need to raise their prices. This is across all their services, which includes Apple Music, Apple One, and Apple TV Plus. Now this might be shocking to a lot of people as this is the first time that Apple has raised their prices EVER in the USA. The one upside about this is that Apple isn’t charging a huge amount, as it sounds like it will go from around $5 to around $7-$8. Not the end of the world right…
Spotify raising its prices for new packages
Spotify is sounding like it will make an exclusive audiophile content just for Platinum Plan subscribers. It appears that it might be coming at a pretty high cost of around $19.99 per month. Both Amazon and Spotify provide exclusive podcasting content as well, while Apple Music is completely separate from Apple Podcasts.
For us this is something that we aren’t going to be taking part in because in all honest, our ears aren’t that good to determine if it is lossless audio quality or not. And if you are listening on wireless ear buds without at least two drivers in each earpiece we don’t suggest you do either. Because the difference will probably not be worth it at all.
Netflix testing new options
Netflix is raising its prices and adding commercials in an effort to combat password sharing like we said above. The price hike, which will take effect immediately ( for some parts of the world, while they are testing out pricing in other places like North America in a bit).
The move comes as password sharing has become a major issue for the streaming giant. A recent study found that 26% of millennials share their Netflix passwords with others, costing the company millions of dollars in lost revenue. In addition, the rise in popularity of ad-supported streaming services like Hulu and YouTube has put pressure on Netflix to find new ways to generate revenue.
Do we get anything for higher prices?
Some music streaming services are introducing new features that cost more money. The new features include higher quality audio, no ads, and offline listening. The higher quality audio is a selling point for many music lovers. For some people, this price is worth it for the improved sound quality. But for others, the price is too high and they are looking for cheaper alternatives. And NO we don’t ever want to buy Youtube Premium so can we just stop seeing your damn ads already?!
Why is this happening?
There are a couple of different reasons why the prices are going up. The first is just because of inflation. Everything in the world is costing more money, at least for the time being, so we just can expect the bills to come in at a higher rate. But we will look at a couple of the reasons here.
The cost of music licensing is increasing.
The cost of music licensing is increasing. This is due to the fact that more and more people are using streaming music services. The costs of these services are going up because the demand for them is increasing. This is causing the cost of music licensing to increase as well.
The increase in the cost of music licensing is having a negative impact on the industry. This is because it is making it more difficult for new artists to get their music heard. In addition, it is also making it more difficult for small labels to compete with the major labels.
The increased cost of music licensing is also having an impact on consumers. This is because they are now having to pay more for their favorite songs. In addition, they are also finding it harder to find new music that they like.
Netflix’s costs are rising
As Netflix continues to grow in popularity, the company has found itself needing to spend more money to keep up with the demand. This has led to a price increase for subscribers.
Netflix’s main expense is content. The company spends billions of dollars every year on licensing and producing its own shows and movies. This cost is only going to continue to increase as Netflix tries to keep up with the competition. And as competitors find out how much money is in the streaming services they are either demanding more for the license, or they are taking back their titles.
Another factor that has contributed to the price increase is password sharing. We went over this above but just as a recap we will go over their policy … because it is just so much fun right? Netflix allows each account to be used by multiple people, but this means that some people are using it without paying. This costs the company money in lost subscription fees.
Overall, Netflix’s expenses have led to a price increase for subscribers. The company is spending more money than ever on content and password sharing is costing them revenue. Here is a sneak peek into the reason why netflix is raising their prices… and it’s all for the money:
The number of users is getting smaller
As the world keeps getting more and more expensive people are looking to cut costs wherever they can. So maybe these streaming services are going to be one of the first things to get cut. And because they’ve been out for a long enough time that the people who want them already have them their subscriber base probably won’t grow anymore.
This is like Facebook. If you don’t have it yet, you probably aren’t going to sign up. So they have to make more money off of the people that they have left. Which can only be done by charging more money. Which sucks as we should get a reward for sticking around versus giving away more money for the same service because people left.
Conclusion: The cost of streaming music services are going up, but there are other options
As the costs of streaming music services continue to rise, many affordable options are still available and that is something that we will suggest checking out. If the cost is just too much then you have to do what you have to do. If you need to trim some expenses to make your budget work then this is something you should take a look at.
Services like Spotify and Apple Music are now charging $9.99 per month, while Pandora is increasing its subscription fees by $2.00 per month. However, there are still many other options available that are more affordable.
Services like Deezer and Tidal offer similar features to Spotify and Apple Music, but at a lower cost. Deezer charges $4.99 per month for its basic service, while Tidal charges $9.99 per month for its premium service. Both of these services offer high-quality streaming audio and a wide variety of songs to choose from.
If you’re looking for an even more affordable option, there are several free music streaming services available as well. These include iHeartRadio, Pandora Radio, and TuneIn Radio. And if you don’t mind ads you can still use Youtube, but we just can’t stand them anymore because of their overl aggressive push for us to try Youtube Premium to get into their rebill scam.
