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Apple One and Apple TV subscription prices increase by up to 20 percent
(arstechnica.com)
This is a most excellent place for technology news and articles.
This is what they do instead. The long term agreement discount encourages people to stay subscribed rather than discouraging people from (re)starting a subscription.
Payment processors take a cut of every transaction, so it is better for the provider too. And if they are small, not applicable to Netflix, it is nice to have a baseline of income every year.