Companies better get used to it and they had better change their business models and future plans. With our current high inflationary rates and the realization that higher prices are here to stay, people are cutting just about everything off their budget list. That includes paying for streaming subscriptions. What used to cost a measly five dollar bill, monthly streaming subscription services are totaling up in the hundreds of dollars per month (when you add up all the multiple services people sign up for). It used to be one streaming service, such as HBO Max would provide enough entertainment for the month. But now many of the streaming services are offering individual blockbusters that you can’t help but sign up for and pay additional fees for these services (i.e Yellowstone first three series are offered on Paramount Network but if you want to see series four you have to switch over, and pay another monthly fee to view the series on Paramount Plus. Series five is coming out and I have no idea where it is going to be streamed but I’m certain it won’t be on Paramount Network nor Paramount Plus.
Over a year ago I cancelled all my streaming services and bought a one-time-only-charge ($28) ROKU box. I tossed out the worthless Amazon Fire Stick we bought the year earlier. I found out about all the free benefits of the ROKU unit from a fellow frugal blogger and she was quite correct. There are so many free things to view off a ROKU box, you’d never be bored, she touted! Plus, every so often ROKU offers free monthly subscriptions to HBO Max, Netflix, Epic, Stars, Showtime to name a few. When I qualified for a freebie, I happily watched for the month, noting on my calendar when the free 30 days would be up and made sure to cancel a few days ahead so as not to be charged.
So far, so good. I was able to comply, quit and NOT spend any money. Period.
Enter Netflix. A few months ago I was offered a one month free subscription and I signed up. What I wasn’t prepared for was all the fine, excellent entertainment awaiting my viewing pleasure. I was astounded at the top quality movies (Power Of The Dog, The Lost Daughter, The Mirror Has Two Faces), the sheer comedic magic of several Netflix comedies (Grace and Frankie, Sebastian Maniscalco, Steve Martin & Martin Short) and other superb made-for-Netflix series (Inventing Anna, The Crown, Bridgerton).
As the months passed, and as my other bills rose, when it came time to make cuts to my budget, I knew Netflix had to go. I will confess that I had tears in my eyes when I cancelled Netflix. It was only $10.80 a month I kept telling myself, but I had to get my budget under control. The price of food and gas for our cars was killing me. I felt shame and regret when I clicked on ‘Cancel My Membership‘. I was back surfing ROKU channels looking for something free to watch and comforting myself by making due with what was available.
Apparently, I wasn’t alone in my cancellation. Over 200,000 other members also cancelled their Netflix subscriptions in the first part of 2022 (click here) mostly due to inflation, rising streaming costs (Netflix used to be $7.99 a month. Now? If you want extras, you’re looking at serious double digits @$20 per month. Plus tax.)
Netflix, which currently has 221.6 million subscribers, last reported a loss in customers in October 2011. Netflix offered a gloomy prediction for the spring quarter, forecasting it would lose 2 million subscribers, despite the return of such hotly anticipated series as “Stranger Things” and “Ozark” and the debut of the film “The Grey Man,” starring Chris Evans and Ryan Gosling. Wall Street targeted 227 million for the second quarter, according to Refinitiv data.
Tonight at midnight, my membership at Netflix will cease to exist. The only good news is Netflix is contemplating lowering their monthly costs BUT including ads in order to do so. Advertising is fine with me if it means I can watch excellent viewer entertainment at a reduced cost. besides, I never look at advertisements anyway. There isn’t a brand named anything in my home. I shop cost NOT brand. My bottom line is money. Hopefully, it’ll be the same goal at Netflix.
Till then, I’ll be like Cinderella at midnight as I shed another tear when Netflix closes it’s viewing doors to me at 12:00AM. I’ll wait for a lower price while I rummage around in the dustbin. ROKU……no offense!
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