Americans are hitting pause on streaming services. Spending on subscriptions dropped by nearly a quarter in 2024.
A report from Reviews analyzed consumer spending trends in 2024. According to the December report, the average American spends $42.38 monthly on streaming services. Over a year, that’s more than $508. Over a lifetime, it adds up to more than $30,000.
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Most households subscribe to two streaming platforms. On average, Americans watch nearly four hours of streaming content daily.
With more than 200 streaming services available worldwide, the options may feel endless, but they come at a cost.
Streaming services have steadily increased their prices. In 2023 alone, major platforms implemented price hikes.
Netflix and Disney+ raised their rates in October, while YouTube TV’s monthly fee increased in March. Even budget-friendly options like Peacock saw price increases.
As wallets tighten, many consumers are reevaluating their subscriptions.
Netflix also disrupted the streaming market in 2023 by cracking down on password sharing. The platform introduced additional fees for accounts shared outside of a household, forcing users to consider whether the streaming giant’s content was worth the cost.
The drop in spending isn’t just about higher prices. According to Reviews, streaming fatigue also plays a significant role. Consumers report feeling overwhelmed by the sheer number of streaming apps and subscription costs.
[KENNEDY FELTON]
Americans are hitting pause on streaming, cutting their spending by nearly a quarter in 2024.
A report from Reviews, an organization that conducts comprehensive reviews of internet providers and mobile services – analyzed the state of consumer spending in 2024. Their December report reveals the average American spends $42.38 per month on streaming services. That’s more than $500 a year and $30,000 over a lifetime. Most households subscribe to two streaming platforms and watch nearly four hours of content every day.
And with over 200 streaming services available worldwide, options are endless but come at a price. It’s no secret streaming services are asking for more of your cash. In 2023 alone, prices jumped across major platforms. Netflix and Disney Plus both raised prices in October of that year, while YouTube TV’s monthly rate climbed in March. Even more affordable options like Peacock saw hikes. As wallets tighten, it’s clear consumers are reevaluating their subscriptions.
Netflix also changed the game in 2023 by cracking down on password sharing, forcing households to stick to their own accounts. The streaming giant introduced extra fees for sharing outside the home, leaving many users asking if it’s worth the binge.
So what’s driving this great unsubscribe? The reason – according to Reviews– is streaming fatigue, a feeling of being overwhelmed with the increasing number of streaming apps.
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