Recently multiple streaming services have both raised their price from $1 to $2 a month. Disney has also announced that later this year they will be raising the price of Disney+ and Hulu will raise their price later this year as it cracks down on password sharing. We have also seen cable TV services raising the price of their internet services and cable TV costs.
The good news is there are things you can do to save money now and protect yourself against future price hikes by switching to annual plans.
As with all price hikes, the new price won’t take effect until your next bill. So if you are locked in with a yearly plan, you can keep your current price until your next renewal. So if you have a service you know you want to use all year having an annual plan is a great way to lock in your price.
If you already missed out on a price hike like the recent Peacock price hike, you can still save money with an annual plan. Peacock, for example, with the ad-free plan, will cost you just $9.99 a month if you prepay for a year. If you pay monthly, that same plan will cost $11.99 a month. So, paying yearly will save you $24 a year.
Disney+ may be the best example of why you want to lock in your price now. Earlier this year, Disney announced that it would be raising the price of Disney+ later this year. Switching to an annual plan could help you avoid a price hike, at least for a few months until your next renewal.
Currently, Disney+’s annual plan is $109.99 a year for the ad-free plan.
Parramount+ currently charges $119.99 a year for its ad-free with Showtime plans.
Max currently charges $149.99 a year for its ad-free plans, a savings of over 20%.
Peacock currently charges $119.99 a year for the ad-free plan, a 17% savings vs paying monthly.
STARZ also recently announced that it will be cutting the cost of its annual subscription down to $69.99 a year.
If you know you plan to use a streaming service all year, an annual plan may cost a bit upfront, but the long-term savings can really add up.
When you also consider annual plans as protection against unexpected price hikes, and you can really see why you should consider paying yearly.