Americans Spend Almost $1000 On Streaming Subscription

American consumers, on average, spend almost $1000 or $77 per month/$924 annually to be exact on subscriptions, exceeding the cost of the average cable TV plan. This information comes from a recent survey conducted by Bango’s “Subscription Wars: Super Bundling Awakens.”

The survey, carried out by Bango, a super bundling platform, that collaborates with major streaming providers between December and January, included feedback from over 5,000 participants, aiming to understand the behaviors and sentiments of streaming video subscribers.

Results indicated that 76% of respondents pay for at least one streaming service, with additional subscriptions for retail (62%), music (44%), gaming (25%), news (16%), and sports VOD (13%). Furthermore, 25% of subscribers pay over $100 monthly, with 5% exceeding $200 monthly or $2,400 annually.

The survey highlighted that 57% of participants have terminated a subscription due to price hikes, while 35% have opted to pay for previously accessed free services. As consumers subscribe to more video services, 49% express frustration at managing subscriptions across different platforms, with 44% finding it challenging to track all their subscriptions.

A report noted that streaming TV costs have surpassed cable expenses, with streaming platforms raising subscription fees, introducing more affordable ad-supported tiers, cracking down on password sharing, and offering bundled packages to increase profitability in their streaming services.

The escalating costs have led to increased piracy, with visits to illegal streaming sites rising by almost 9% in 2022, according to data from Muso.