Netflix Hiking Rates: Is It Still A Good Deal? - Refresh Financial

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Netflix Hiking Rates: Is It Still A Good Deal?

Netflix Hiking Rates: Is It Still A Good Deal?

Netflix recently announced that it will be raising costs in Canada and it begs the question… As we see Netflix hiking rates: is it still a good deal?

The quick answer? Yes!


Let’s take a closer look at recent television trends to see why streaming services are the way to go.


The Costs

If you have the standard or basic plan, you can expect your monthly cost to go up by a dollar. If you’re a premium user, you will be paying two dollars a month more.

The average cable television bill in Canada is around $50 and though many channels are included at this price point, it doesn’t provide access to many of the most popular programs. Narcos? Ozark? These Netflix-only series are not available through traditional cable channels, so if you’re not totally satisfied with reruns of Seinfeld, you’re might want to think of making the switch.

The Content

With the standard package on Netflix, you’re paying about $10.99 per month. That’s $40 less than what cable television costs. You could take the $40 difference and put it towards other streaming services like Hulu, HBO Go or Amazon Prime and have access to more content than you would know what to do with.

With the recent release of the new DAZN platform for streaming sports and the fact that most news channels offer live streaming services, there is less and less of a need for classic television. If trends persist, more and more people will be ‘cutting the cable’ as time goes by and cable companies will be forced to continue increasing their prices to offset their dwindling consumer base.

The Verdict

So, regardless of where you stand when it comes to your television preferences… Eventually, you might not have the choice but to stick to the online streaming methods.

Practically speaking, it probably makes sense to jump on the streaming TV train now and save your hard earned money.

What do you think is a better option? Streaming television services like Netflix? Or traditional cable packages?

Let us know in the comments!

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