Looking for streaming deals? Try hitting the cancel button

Anyone who’s ever tried to cancel a cable subscription knows what comes next: a call from the customer service representative for you to stay, usually sweetened with a steep discount.

Last-chance deals offered by cable companies, gyms and other subscription services are straight out of the customer loyalty playbook, and the ploy is also being followed by major video streamers, from Disney+ and Paramount+ to Peacock and HBO Max.

Earlier this month, Peacock subscribers on Reddit were excited about one of these so-called “save deals.” In this case, Peacock offered a subscriber on the ad-free Premium Plus tier a six-month discount of 73% off the ad-supported Premium plan (or $2.99 ​​per month instead of the usual $10.99/month) to stay rather than cancel.

Other major streamers have offered similar discounts over the past year, including HBO Max (which offered six months of its ad-supported Standard plan to outgoing subscribers at half price) and Disney+ (which announced it would cut its Duo Basic plan in half for old subscribers looking to return). Paramount+ is also known for its last-minute “please don’t cancel” deals, although they could get stingier in the coming months.

One streamer that isn’t known for its backup offerings is Netflix. I’ve canceled (and then resubscribed) Netflix several times over the past two years, and not once have I been offered a discount for staying. That’s not to say Netflix hasn’t ever offered a “don’t leave” discount, but if they have, I haven’t seen one yet.

Still, it never hurts to try, which brings me to one of my tips for landing a great backup offer…

There is no downside to canceling your streaming subscription

When you start the cancellation process, you may receive dire warnings from streaming about all the shows you’re going to miss and all the customization settings you’re about to lose.

The truth is that the threats are mostly empty. For starters, you’ll typically retain access to your streaming account for the remainder of the billing cycle, so you won’t be immediately cut off from your account. (The exception is a free trial, which will usually end immediately once you cancel.) And if you cancel before your subscription actually ends, you’ll be welcomed back as if you never left.

Finally, if you let your subscription expire but decide to resubscribe later, your wishlists, recommendation algorithms, and “continue watching” history will likely still be there, where you left off; Netflix, for example, will keep your data for a full 24 months.

If you don’t receive a backup offer immediately, wait

So what happens if you go through the cancellation process and the streamer doesn’t offer you a “don’t leave” offer? Just be patient.

Sometimes the streamer you just canceled on will email you a backup offer with the days following your cancellation. The Disney+ offer that I mentioned above, for example, was received by email by subscribers who had already abandoned their account.

Backup offers for one subscriber may be different for another

Not everyone will benefit from the same backup offer. Take the Peacock “Please Stay!” » discount that is getting attention this week; some users say they were offered six months of Peacock Premium for just $2.99 ​​per month (compared to the usual $10.99/month), while others received a much more modest discount of $7.99/month.

Additionally, some Peacock users reported that discounts disappeared when they refreshed their browser or when they abandoned the cancellation process and then tried to cancel again.

So if you see a backup offer that looks attractive, you might want to grab it immediately before it disappears later.