Who couldn't use a few extra bucks in their pocket every month? It doesn't matter if you're a college student, a retiree on a budget, or just planning your next family vacation, it's nice finding ways to save money.
That's why cutting the cable cord is such a popular trend. Millions of Americans have already switched from cable or satellite to streaming services. You can save hundreds of dollars per year if you know how to cut the cord the right way.
There could be a looming problem though. It seems that streaming service companies have decided to start a new trend, hiking prices. Netflix might be the next one to get in on this unwelcomed trend.
Streaming service price hikes
We've been covering these price increases for a couple weeks now. First, Sling TV announced that it is raising its prices by $5 per month.
Then, AT&T announced it would be following suit and hiking the costs of its DirecTV Now service by $5 per month. Soon after, Sony got into the action and announced a price hike of $5 for its PlayStation Vue service.
Now, there are rumors circulating that Netflix will soon be introducing a new, higher tier of service. You guessed it, at a higher price.
At the moment, Netflix has three tiers of service to choose from. After a new subscriber's free 30-day trial, they select either a Basic, Standard, or Premium plan.
Basic costs $7.99 per month, while Standard costs $10.99, and Premium will run you $13.99.
Image: Current pricing chart for Netflix plans. (Source: Netflix)
According to an Italian blogger, Netflix is testing a higher-tier service called "Ultra." It would let users stream Ultra HD and HDR (High Dynamic Range) video and audio simultaneously on up to four gadgets and cost almost $20 per month. (Premium will still have Ultra HD but no HDR).
Not every Netflix subscriber sees tests like this. It's also possible that the Ultra plan may never officially be offered. But with the way costs are rising for cord cutters, it wouldn't be a surprise.
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Netflix vs. Vudu vs. Amazon Prime vs. Hulu: What's the best value?
There is a cacophony of streaming video services out there and it can be challenging to sort them all out. Ultimately, you want to get the most entertainment for your money. The three big players right now are Netflix, Amazon Prime Video, and Hulu. They’re competing for your attention with original movies and television shows as well as vast catalogs of video choices from other studios.
Which service is best for you? Click here to see how they shake out.