Verizon Hikes Netflix-HBO Bundle by $3, Churn Surges

0:00Verizon's jacking up the price on its popular Netflix and HBO Max bundle, going from $10 a month to $13 starting May 6th, this perk gave eligible phone and home internet customers the at-supported versions of both services, saving folks around 9 bucks off the regular. Price. But it's happening even though the company's CEO, Dan Schoeman, just slammed past price hikes for chasing away customers. Back in January's earnings call, Schoeman admitted they'd lost 2.25 million customers over three years, mostly from those old pricing, moves and tougher competition. He said hiking prices, without adding value, just ticks people off and spikes churn. Last year though, Verizon still bumped up my plan prices, device fees, and even loyalty discounts, blaming rising costs. New client from $134.8 billion to $138.2 billion, but post-paid phone churn hit, 0.98% up

1:02from 0.88. Customers aren't staying quiet. On Reddit, folks are straight up canceling the bundle, saying nothing goods on there anyway and they're sticking to YouTube. A whistle-out survey shows 58% of Verizon, AT&T, and T-Mobile users are eyeing a switch as price is climb, putting 84.7 million Verizon subs at risk. This comes right after Netflix hiked its ad tier from $7.99 to $8.99 on March 26th and HBO Max. Jump from $9.99 to $10.99 last October. Broughter trends back the backlash, a cable TV survey says 1 in 3 Americans ditched a streaming service last year, with high costs topping the list. At 43%, Netflix led cancellations at 32%. Verizon's walking a tightrope here, betting on revenue gains while customers bail on perks and maybe even their plans altogether. Keep an eye on the churn numbers, they're telling the real story.

2:03That wraps Durham news today, brought to you with AI, I'm Cory with the Story.