Over the past few months, we have seen major streaming services increase prices in what’s being called “streamflation”. However, the streaming service division of the major pay cable network Starz took the unusual route of actually lowering the price permanently for people who sign up for an annual subscription.
Previously, an annual Starz subscription cost $74.99. However, Cord Cutters News reports that Starz annual subscribers received an email this week with the following info:
We are pleased to inform you that the price of your annual subscription is being reduced to $69.99 every 12 months. These changes will be reflected in your next billing cycle after August 28, 2023. If you are on a free trial or offer, no changes will be made until after your free trial or offer is complete.
The report also has a quote from Alison Hoffman, President of Domestic Networks at Starz, who put in a not-so-subtle dig at other major streaming networks and their current financial situations:
As one of the few streaming networks that is profitable, we are always looking for ways to drive success for the business while providing great value to our customers. Our annual plan subscribers are some of our most valuable customers, so we wanted to find ways to drive more people into the plan and reward our existing customers.
Starz is currently owned by the Hollywood film and TV studio Lionsgate, As such, it’s the exclusive streaming home of its new films, including the recent John Wick Chapter 4, which debuts on Starz in September. The Starz streaming service also has thousands of library movies from other studios, including Disney, Sony, and more.
It also has a bunch of original TV shows, including popular series like the many shows in the Power franchise, along with Outlander, Heels, Spartacus, Gaslit, and more.
The decision by Starz to lower its annual price, even by just $5, is definitely a change compared to what we have seen recently. Earlier in August, Disney announced major price increases for its ad-free plans on Disney+, Hulu, and ESPN+.
Comcast’s Peacock service also announced price increases for both its Premium and Premium Plus plans in July. YouTube Premium prices went up by $2 a month to $13.99 a month in July as well.