Every few months, it feels like a new streaming service provider is announced. While there used to be just one or two that gave consumers content, now it seems as if every Hollywood studio has created its own platform. With all those streaming services comes a multitude of subscriptions, and if you want to watch something specific, chances are you’re going to have to sign up for another service.
But how many subscriptions are too many? Have the streaming services gotten out of hand, or do Americans enjoy the seemingly endless options for content? In a new study by DailyStoke, over 1,000 American consumers who subscribe to popular streaming services give insights and opinions on all these different platforms.
American Subscriptions to Streaming Services
Most streaming services subscriptions are fairly affordable, but when you’re combining several platforms, that monthly bill adds up. With automatic charges, do Americans even know how much they’re spending a month on streaming services? 69% of subscribers do know their monthly cost, and on average Americans are spending $46 a month to stream their favorite shows, movies, and music. The majority believe streaming subscription costs are overpriced, and nearly half don’t believe the platforms offer enough to justify the subscription costs.
But Americans aren’t ditching their subscriptions just yet, as 62% believe it’s necessary to be subscribed to streaming platforms in today’s society. In fact, 1 in 4 could not live without subscribing to a service, and even when they try to cancel, most Americans end up just resubscribing later.
Overall, the vast majority of Americans like the content that’s offered through different streaming platforms. Sometimes a new show or movie will be released and skyrocket in popularity, and if you’re not already subscribed to the platform, you can’t watch the content. To remedy this, 3 in 4 Americans will sign up for a free trial on a new platform just to watch something specific, and of those that do, 1 in 10 end up forgetting to cancel that trial.
Password Sharing and Streaming Service Subscriptions
In the early days of Netflix, you could share your password with anyone and they would be able to watch content through your subscription. As the popularity of streaming services continues to rise and the number of subscribers plateaus, platforms have begun to create new policies to discourage password sharing.
More than 3 in 10 Americans share their streaming service platforms with non-household members. These are people who don’t live together but share one account or log in. The majority of these types of accounts are shared with mothers, sisters, brothers, and friends. A few even admit to still mooching off of an ex’s account! For people that share an account, 28% split that monthly subscription cost with those who share the password. For many, it’s paying off as the average American is saving $15 a month through password sharing.
More than 3 in 4 (79%) Americans think it’s fine to share streaming service passwords with people they don’t live with, and 2 in 5 don’t think the platforms should be cracking down on those who share passwords.
In fact, half of American consumers say they will cancel their subscriptions if providers continue to implement measures agai