Remember when all your favourite TV shows and movies were in one place? A reasonable monthly fee to Netflix gave you ad-free HD access to everything you wanted to watch.
But that lucrative business model soon attracted competitors, who pulled their content from Netflix as they entered the market. While competition usually benefits consumers, in this case, it’s making access to your favourite shows far more expensive—if they even make it past the first season.
And it’s about to get worse.
The streaming market has exploded in Australia.
The old one-stop-shop of Netflix has been joined by a smorgasbord of streaming rivals including Binge, Paramount+, Disney+, Stan, Apple TV, BritBox, and Prime Video.
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If you were to subscribe to all eight ad-free today, you’d be forking out $114 a month.
Add in Kayo and Stan Sport for sports-loving households like mine, and you’re up to $154.
That’s a far cry from the days of paying $12 for everything on one service.
Soon, there will be even more to navigate. Warner Bros., owner of HBO and Cartoon Network, has confirmed it will launch its Max streaming platform in Australia in 2025.
This could lead to further content stripping, as Foxtel’s Binge platform relies heavily on HBO shows like Game of Thrones and House of the Dragon to attract subscribers.
To combat the growing number of services, many households turned to password sharing as a way to dodge multiple subscriptions.
However, technological advances have allowed streamers to crack down on this activity.
Netflix now charges $8 extra per subscriber for sharing accounts, Disney+ is about to follow suit, and it’s likely other platforms will do the same.
Soon, even that small hack to save money may disappear
On top of the growing complications of access, increased competition between streamers means you might invest time and money in a show that gets abruptly cancelled.
The strategy seems to be to greenlight as many new shows as possible to attract viewers, then quickly cancel the ones that don’t immediately succeed.
Two recent examples demonstrate the mixed fortunes of shows on the chopping block.
Kaos, a Greek mythology series starring Jeff Goldblum, premiered on Netflix on October 29.
Despite rave reviews, it was cancelled within a fortnight, and it seems unlikely any more seasons will be produced.
On the flip side, Star Trek: Prodigy on Paramount+ had a reversal of fate.
Despite being a hit with younger viewers and Trekkies alike, it was cancelled in mid-2023 while the second season was still in post-production due to cost-cutting measures at Paramount.
Fortunately, the show was rescued by the much larger Netflix later that year and promptly warped into the top 10 kids shows in Australia, proving that some shows do better with a wider audience pool.
If you’re a Trekkie with kids—or without—it’s definitely worth a watch.
However, more often than not a show’s cancellation means it’s gone for good, leaving viewers frustrated and questioning the value of their subscription.
Speaking of Star Trek, the history of this franchise shows why the current model of expecting immediate success is bad for viewers.
Some shows need time to mature and find their footing. The Next Generation, arguably the most successful series in the Star Trek franchise, had a rough first two seasons before the writers and actors finally hit their stride.
It went on to produce five more seasons and became one of the best science fiction series ever made. Today, it likely wouldn’t have made it past the first year.
All of this has led to a drop in the perceived value of these services.
How can I reduce my streaming costs?
Finder’s Consumer Sentiment Tracker (CST) shows that the number of Aussies who feel they are not getting good value from their streaming services has risen from 15 per cent in Q4 2022 to 20 per cent this quarter, with that trend likely to continue.
The streaming wars have turned what was once a simple, affordable way to enjoy entertainment into a fragmented, expensive headache.
So, what’s the solution?
My family’s approach: Binge and Bin—only pay for what you watch, one service at a time.
Better yet, wait for a few shows to finish their seasons on a single service, then watch them all in the same month.
While it requires some patience, it’s a strategy more people are adopting, with Finder’s CST showing that 1 in 3 Aussies have cancelled a streaming subscription in the last six months.
While you’re paying for one service, you could also take advantage of a free trial to scout your next option.
Instead of letting these platforms drain your bank account, pick and choose wisely.
Binge what you love, then bin the service when you’re done.
It’s the only way to survive the streaming wars with both your sanity and wallet intact.
