Streaming prices continue to rise

  • 2 weeks ago
TheStreet’s Conway Gittens brings you the biggest news of the day, including what investors are watching and streaming prices continue to rise.
Transcript
00:00I'm Conway Gittins reporting from the New York Stock Exchange.
00:02Here's what we're watching on the street today.
00:04Wall Street wrapped up its best week of the year as investors bet the economy is strong
00:09enough to avoid a recession, but weak enough to convince the Federal Reserve to start cutting
00:14interest rates.
00:15Investors will be hanging on to every word from Fed Chief Jerome Powell in the coming
00:19week.
00:20In addition, there will be new housing data and quarterly results from Lowe's, Target
00:25and TJX, the parent of TJ Maxx.
00:29In other news, if you feel like your various streaming media accounts are crimping your
00:33wallet, you're right.
00:35Media companies are hiking streaming subscription fees left and right.
00:39Disney Plus, Paramount Plus, Peacock and Maxx have each announced price hikes over the past
00:44five months.
00:45Netflix hasn't raised prices so far this year, but it is dropping its cheapest ad-free subscription
00:51plan.
00:52Apple TV Plus had a big price hike at the end of 2023.
00:56Sure, it's a dollar here and a dollar there, but those dollars add up in an inflation-weary
01:02world.
01:03Media execs say the price hikes are needed to pay for all that content that's being created.
01:08The CFO at Warner Bros. Discovery, which owns Maxx, said,
01:12For a decade in streaming, an enormously valuable amount of quality content has been given away
01:17well below fair market value, and I think that's in the process of being corrected.
01:23But the real reason streaming prices are going up has to do with cord-cutting.
01:28Traditional cable TV is losing viewers at a rapid pace, and that means less ad revenue
01:34flowing from advertisers to the media companies.
01:37Lost revenue has to be made up in some way, and for now, streaming is the media industry's
01:43best bet.
01:44That'll do it for your daily briefing from the New York Stock Exchange.
01:47I'm Conway Gittins with the Street.
01:53Thanks for watching.

Recommended

1:58
I
Up next
Yelp sues Google over antitrust violations
The Street
2:43
The difference between traditional and alternative credit scoring
The Street
1:51
Comcast introduces new streaming bundle
The Street
1:48
You can now subscribe to Disney+, Hulu, and Max in one bundle
The Street
2:02
Disney to raise prices of streaming services
The Street
2:53
Here's how to stand out in a competitive job market
The Street
1:53
Grocery prices finally start to come down
The Street
1:53
Grocery prices are flattening, but menu prices are still rising
The Street
1:49
Rising temperatures are leading to rising produce prices
The Street
1:52
Netflix ditches cheapest ad-free tier
The Street
1:39
Walgreens to lower prices on thousands of products
The Street
1:40
The rich have gotten much richer
The Street
1:58
Crypto hacks are on the rise
The Street
1:58
GameStop, AMC make a roaring comeback
The Street
1:51
Netflix to hike prices in 2024
The Street
1:49
GameStop stock soars again as Roaring Kitty reveals holdings
The Street
1:57
Mars agrees to acquire Kellanova
The Street
1:50
Spotify raises prices for second time in less than a year
The Street
1:39
Walmart stock hits all-time high
The Street
1:32
U.S. Surgeon General wants warning labels on social media apps
The Street
1:37
TJ Maxx, Marshalls, and Home Goods are expanding
The Street
1:38
Foot Locker surges as sneaker heads prepare to pay full price
The Street
1:34
Prices at the pump are beginning to cool
The Street
1:54
CrowdStrike claims Delta ignored offers of assistance
The Street
1:54
Spirit Airlines won’t file for bankruptcy
The Street