Before the pandemic, streaming was a consumer-friendly alternative to traditional cable. Netflix, Hulu, and Amazon Prime Video offered broad catalogs of content at affordable prices, without interrupting the viewing experience with endless ads. For a modest monthly fee, users could binge entire series, enjoy original movies, and tune into international content with minimal friction.
Then came COVID-19.
While the world locked down, millions lost jobs, and small businesses collapsed, streaming platforms saw their fortunes surge. With theaters shuttered and live events canceled, companies like Netflix, Disney+, Peacock, and Amazon Prime Video became the primary pipelines for entertainment. They raked in billions. Netflix gained 36 million subscribers in 2020 alone—its largest annual increase ever. [source]
Instead of showing loyalty to the millions who kept them afloat, these companies are now capitalizing on their pandemic-era gains. Prices have soared across the board, and previously ad-free services now push consumers to pay extra to avoid commercials. Amazon, for example, began inserting ads into Prime Video in early 2024 unless users pay an additional $2.99/month. [source] it honestly would not be surprising. If later on, they decide to do another price hike, and if other platforms will follow suit.
This is corporate price-gouging, plain and simple.
Even worse, many services are quietly offering less. Original programming is down across the industry, with platforms like Netflix slashing their animation departments and canceling shows prematurely, even mid-season. [source] The promise of “more content, more choice” has eroded into a system that locks your favorite shows behind tiered pricing and injects ads into experiences once considered premium.
Why? Because executives and shareholders got addicted to the profits of the pandemic.
It’s no secret that tech and media moguls pay shockingly little in taxes. Amazon paid just 6.1% in federal taxes on over $13 billion in pre-tax income in 2021. [source]
Where is the accountability? Streaming services aren’t offering more—they’re simply monetizing user attention more aggressively. This isn’t about the cost of “high-quality content,” it’s about feeding shareholders and bloated executive salaries.
The bottom line? Streaming platforms aren’t hurting. They’re just hungry. And unless we stop feeding the beast, the price of watching your favorite show will keep climbing—until only the rich can afford to binge in peace.