After years of inflation, Americans are used to sticker shock. But nothing compares to the surging price of streaming video.
Last week, Apple TV+ became the latest streaming service to raise its price—up from $6.99 to $9.99 per month—following the example of Disney+, Hulu, ESPN+, and Netflix, which all hiked their prices in October.
Half of the major streaming platforms in the U.S. now charge a monthly fee that’s double the price they charged when they initially came to market. And many of these streaming services haven’t even been around for 10 years.
Just to be clear, are you questioning whether there’s ever been a case where prices have been stable because a company is worried about losing customers? I mean, there are tons. We’re coming out of a 20 year period of historically low inflation. High inflation is recent, not inevitable.
Consumer electronics are an obvious example. Smart phone prices actually dropped this year on soft demand.