Black Friday deals are everywhere right now, and many of the major streaming services will probably announce special promotions to entice new customers soon, too.
If you’re thinking about “cutting the cord,” or switching from a traditional cable provider to a streaming service, this might be a good time to try it.
“The deals that will be coming out will be attractive to new subscribers and most likely will be basic plans with ads,” Chad Gammon, an Iowa-based certified financial planner, said in an email interview.
While some streaming services might also offer deals on plans without ads, Gammon, who owns Custom Fit Financial, said they’ll come at a higher cost. So keep an eye out for the deals, but make sure you look at the terms and conditions, too.
Black Friday streaming deal trends
Some streaming services will roll out their Black Friday prices in the coming days — and some have already started offering deals. For example, ESPN+ is running a promotion offering 12 months for the price of nine, as long as subscribers choose the annual plan. That deal is good through Dec. 2.
Last year’s Black Friday deals can be a good indication of what’s to come.
“Past Black Friday deals, like Hulu’s $1.99/month offer, really show the range of savings,” Clay Cary, a senior trends analyst at CouponFollow, said in a prepared statement.
“More often than not, bundles like Disney+/Hulu/ESPN+ tend to give the most value if your household uses multiple platforms,” Cary said.
We contacted these services about their Black Friday plans. Disney+ said there are no deals to announce quite yet. Hulu and ESPN+ did not respond to requests for information.
Are Black Friday streaming deals worth it?
While you’re waiting for the deals to drop, consider the different streaming plans, your budget, and whether one service can give you all the programming you want.
Streaming services present themselves as cheaper alternatives to cable companies with long contracts, poor service, lots of commercials and expensive monthly contracts. But do they make good on that promise?
You’ll need to look at the details
You might think you’re scoring a great streaming service deal only to realize it’s for the version with ads. Pay attention to other details, too. A streaming service might offer a seasonal deal, but on a plan that limits the number of devices that can stream at once, and video quality can vary.
Crackdowns on password sharing have also hit the streaming world hard and frustrated many consumers — and the alternatives aren’t great.
“Paid-sharing options, like Netflix’s, haven’t been popular because they feel like an extra charge without added value,” Cary said. “For budget-conscious viewers, these changes could push them toward free ad-supported services instead.”
You’ll still need to pay for internet
If you were hoping to cut ties with your cable provider, you might have to think twice. You’ll still need the internet to use your streaming service. Many households bundle cable and internet costs, so if you cut cable, you will need to get a price for an internet-only plan.
If multiple people in your household are streaming at once, you might find your old internet speed isn’t cutting it. A boost in internet speed will cost more, so you’ll need to adjust your budget accordingly.
You might need to subscribe to multiple services
If you’re a sports fan with kids in the house and a spouse who likes shows from premium channels, you might have to sign up for three different streaming services to get all the content you want.
Signing up for multiple streaming services can get pricey and can also be a real headache.
Gammon described this as “subscription fatigue,” where people subscribe to multiple services and end up not using them because they can’t find which programs are on which streaming service.
To stay within your budget, Cary said consumers should focus “on platforms that align with what you actually watch rather than trying to subscribe to everything.”
Expect a price increase later
The excitement of scoring a cheap deal won’t last forever.
“When promotional deals lapse, prices can spiral upward alarmingly, doubling in some cases,” Cary said.
“To avoid such surprises, set a reminder before the discounted rate expires to review your subscription,” he said.
Check existing memberships for free subscriptions
Before signing up, ask yourself: How do streaming services fit into my budget? In a 50/30/20 budget, streaming services fit squarely into the 30% wants category, alongside travel, entertainment and dining out.
If your budget is tight, check your current memberships, because some major retailers offer significant discounts or free subscriptions on streaming services. For example:
Walmart+ members get access to the Paramount+ Essentials plan as a benefit. Grocery chain Kroger offers Boost members the option to get Disney+ Basic (with ads), Hulu (with ads) or ESPN+ for free as part of their yearly fee. Verizon offers Verizon Home Internet users free subscriptions to Netflix Standard (with ads) and Max (with ads) for a year, and then $10 per month after that. That’s a savings of $203 in the first year.
While most of these offers are for base-level plans with ads, tapping into existing benefits is a low-stakes way to try out one of these platforms.
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Amanda Barroso writes for NerdWallet. Email: abarroso@nerdwallet.com.
The article Black Friday Streaming Deals: Read the Fine Print First originally appeared on NerdWallet.
