The battle for streaming customers‘ wages on. While Netflix announced its first price rage since 2007, Hulu countered with a subscription price drop, and other services are strengthening in the marketplace.
With so many options, do a few more dollars here and there matter?
Waterstone Management Group surveyed 2,500 Americans and found that 84 percent underestimate their monthly subscription spending—everything from cable and phone bills to entertainment services, apps, and lifestyle boxes.
On first guess, most estimated they spend roughly $80 a month on these services; the average monthly spend is closer to $240 a month.
The study revealed consumers are largely unaware of the aggregate cost of all their services.
However, some monthly services and fees are easier to remember when thinking about their budgets: including monthly mobile phone bills, home WiFi, television and movie services, Amazon Prime subscriptions, as well as music streaming and gaming services. People will most likely forget about their paid wellness apps, children’s subscription boxes, fashion subscription boxes, pet boxes, dating apps, and other lifestyle subscription boxes.
So, what are consumers happily subscribed to, and which services do they wish they could do away with?
The survey revealed people are “happily hooked” on music streaming services, Amazon Prime, and TV/movie streaming subscriptions. On the other hand, people say they are “unhappily” attached to their dating apps and subscription boxes.