There's A $1,000 Reason to Find Out How Much You're Paying A Year For Streaming
A new study shows we're spending a staggering amount to stream our favorite shows — and yet, still not as much as cable.
![two children sitting in front of a tv screen which is lit up with blue-green light.](https://cdn.mos.cms.futurecdn.net/DCdhWUmVkb76yga7X8Kp53-415-80.jpg)
Americans are spending on average almost $1,000 per year on streaming their favorite shows, movies and sporting events, according to a new "Subscription Wars" study by Bango, a provider of software for bundling subscriptions.
Bango recently polled 5,000 U.S. streaming subscribers about their habits and found that, on average, most of us are spending $924 a year, or $77 per month, on streaming services, with about a quarter of us paying $100 per month. One in 20, however, are laying out a whopping $2,400.
Even so, the average amount we spend on streaming is still less than the average spent on cable. A recent Cord Cutters News report puts the average cable bill at more than $200 per month.
![https://cdn.mos.cms.futurecdn.net/hwgJ7osrMtUWhk5koeVme7-200-80.png](https://cdn.mos.cms.futurecdn.net/hwgJ7osrMtUWhk5koeVme7-320-80.png)
Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
For streaming services, the push to better monetize subscriptions is on with many now offering both ad-supported and the more pricey ad-free subscriptions. Many including Netflix, have also cracked down on password sharing, a move that actually caused a 35% increase in sign ups, the study shows.
In fact, as Netflix hiked prices last October for the second time in less than two years, it announced a huge increase in subscribers thanks largely to cracking down on password sharing. The streaming giant said that, as it delivers value to subscribers, "we occasionally ask them to pay a bit more."
The study cautions, however, that while streamers have been successful at hiking prices, "continued increases may lead to certain consumers being unable to afford their subscriptions, as over half of subscribers (57%) have discontinued their subscriptions because of unanticipated price hikes."
Good deal hunting
Many subscribers are looking for deals, the study shows, with about one in five avoiding the traditional, direct subscription process by, for example, signing up for indirect services via bundling with another service. The result could be lower cost or even free subscriptions as part of a package.
Just last week, the Wall Street Journal reported on a potential new bundle on the horizon with rumors that Peacock and Paramount Plus might merge. In December 2023, Verizon announced that its latest streaming perk bundles Netflix and Max for $10 per month.
Bundling may also help with "subscription fatigue" that many customers are experiencing, according to the study. It finds that more and more people are interested in signing up for a content hub where they can get all their subscriptions in one place and have one bill to manage each month.
A content hub "isn't just about convenience," according to the study. "It's also about landing the best possible deals, with more than half of subscribers (54%) expecting to receive a discount on subscriptions when bundled in this way."
As the subscription wars rage on, there are a number of ways to try and save on streaming services without sacrificing programming. You could, for example, try rotating out or even canceling services and waiting to re-subscribe when there is a promotional period.
You could also keep an eye out for free streaming services too.
RELATED CONTENT
Get Kiplinger Today newsletter — free
Profit and prosper with the best of Kiplinger's advice on investing, taxes, retirement, personal finance and much more. Delivered daily. Enter your email in the box and click Sign Me Up.
Jamie Feldman is a journalist, essayist and content creator. After building a byline as a lifestyle editor for HuffPost, her articles and editorials have since appeared in Cosmopolitan, Betches, Nylon, Bustle, Parade, and Well+Good. Her journey out of credit card debt, which she chronicles on TikTok, has amassed a loyal social media following. Her story has been featured in Fortune, Business Insider and on The Today Show, NBC Nightly News, CBS News, and NPR. She is currently producing a podcast on the same topic and living in Brooklyn, New York.
-
3M Leads Dow Stocks After Massive Earnings Beat
3M stock is headed toward its best day ever after the industrial conglomerate's impressive earnings report. Here's what you need to know.
By Joey Solitro Published
-
Social Security Login Changes Taking Effect Soon
my Social Security accounts created before 2021, are transitioning to the Login.gov platform.
By Donna LeValley Published
-
Best 6% Interest Savings Accounts Available Now
Want 6% interest on your savings? You could earn an APY of 6% or higher with these accounts, but you'll want to lock in rates soon.
By Erin Bendig Published
-
Hotels That Give the Best Value for Your Money, as Rated by Guests
New research reveals the best hotels in the U.S. for value for money according to hotel guests — and why they’re demanding more from their stay.
By Charlotte Gorbold Published
-
The 6 to 1 Grocery Method Can Save You Time and Money
The 6 to 1 Grocery Method can help you save money, reduce waste and eat healthier.
By Erin Bendig Published
-
Why This Economist Thinks the Fed Is Already Late to Cut Rates
Moody's Analytics chief economist Mark Zandi talks to Kiplinger about what he thinks the Federal Reserve is getting wrong on inflation.
By Anne Kates Smith Published
-
Tech Outage: How to Get Reimbursed if Your Flight Was Canceled or Delayed
Did the global Microsoft outage disrupt your travel plans? Here's how to get reimbursed if your flight was canceled or delayed.
By Erin Bendig Last updated
-
How the Tech Outage Impacted Banks and Finances
A major tech outage that caused chaos at airports also impacted banking and finance.
By Alexandra Svokos Last updated
-
Get Your Starbucks $3 Drink Today
Starbucks $3 Drink specials are available this Friday only, July 19, from 12 to 6 p.m.
By Kathryn Pomroy Published
-
After Amazon Prime Day: The 25 Best Deals Still Going On
If you missed out on Amazon Prime Day, no worries. There are dozens of "too-good-to-miss" Post-Prime Day deals to cash in on, from Moen, Keurig, Apple, Ninja, Levis and more.
By Kathryn Pomroy Published