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The average US subscriber pays almost $1000 a year for streaming subscriptions
Video-streaming subscriptions have become as mainstream as cable once was for Americans, with 83% of people paying for at least one streaming service. But you may be wrong if you think you're saving money by using streaming services.
A new report found that the average American subscriber pays $924 yearly for subscriptions; that's $77 per month. Moreover, 25% of the 5,000 surveyed subscribers pay $100 per month, and 5% pay $200 monthly.
Also: The best live TV streaming services
The Subscription Wars 2024 survey, conducted and published by Bango, is a window into how much we're paying for our subscriptions, and how much we're willing to fork up for other benefits, like forgoing ads.
While 57% of subscribers have canceled a subscription due to recent price hikes, 36% have upgraded a subscription after an ad-supported version launched, and 67% still feel like they can't afford all the subscriptions they would like.
Subscribers also strongly object to premium ad tiers, as 78% of those surveyed believe a 'paid-for' subscription service should never display ads.
Unfortunately, a recent personal audit of all my streaming-service subscriptions had me realize that I was one of those people paying close to $1,000 per year in subscriptions at $71 per month. As I went down the list of which subscriptions to forgo, there were a couple I knew would be hard to cancel -- these are services the survey calls 'forever subscriptions'.
Also: Hulu begins password-sharing crackdown: What happens if you're caught
Three-quarters of subscribers have at least one subscription they will never cancel or pause, no matter how often they switch between others. For me, that's Netflix and Disney+. I'll toggle Hulu on and off like a light bulb, but Netflix and Disney+ are the only services that are always on.
These two services are also the ones that have recently cracked down heavily on password sharing, which had many users initially threatening an exodus. However, the survey shows the actual reaction of subscribers to the changes is different. Since the password crackdown that Netflix kickstarted last year, 35% of subscribers are now paying for a service that they previously accessed for free.
Also: Disney+ password-sharing crackdown comes to the US. Here's what to know
As many video-streaming services add commercial interruptions and password-sharing restrictions, talks of subscription fatigue grow, especially considering the average subscriber has 4.5 subscriptions.
With many Americans juggling a range of subscription services, demand for a single content hub is growing: 73% of people surveyed want a single content hub for subscriptions, and 69% want the ability to pay for multiple subscriptions via one bill.
This sentiment could lead to customers seeking out super-bundling options to save money, like Verizon's +play, which lets mobile users manage their subscription-based streaming services.