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 against password sharing, and 64% already admit to being frustrated by current measures taken by providers.
So Many Streaming Services, So Little Time
It’s no surprise that Netflix reigns supreme when it comes to streaming service popularity. With more than 230 million subscribers worldwide, it’s the “OG” when it comes to streaming services. 75% of respondents subscribe to Netflix, with Amazon’s Prime Video coming in at number two with 69% of Americans, and Hulu ranking third with 52%. On average, Americans are subscribed to 4 different streaming services.
Why even bother with streaming service subscriptions? For most Americans, it’s to watch their favorite TV shows, the variety of content available, easy access to favorite movies, and the original content being produced by the platforms themselves.
If Americans could only choose one service to be subscribed to, Netflix comes in first, followed by Max (formerly HBO Max) and Prime Video.
All platforms have their strengths and weaknesses, but some of the most important factors to consider when choosing a service include content, price, and ease of use for consumers. When it comes to content, Americans say Netflix, Prime Video, and Disney+ have the best to offer. Price-wise, Prime Video, Netflix, and Hulu come out on top. And when it comes to the user experience of a platform, Netflix, Prime Video, and Disney+ rank in the top three.
Watching Habits of Americans
Unsurprisingly, the majority of American consumers feel there are too many streaming services. As new ones are created and announced, it can be overwhelming to decide what to keep and what to cancel. But when it comes to having cable TV or subscribing to a streaming service… 9 in 10 Americans prefer to stream.
While streaming services can be great for the available content and lack of commercials, not all providers have the capability to provide live TV. When it comes to sports or the evening news, sometimes you need the ability to watch programs live. 68% like the providers that offer live TV capabilities, like YouTubeTV, and 70% think more streaming services should offer this.
How often are Americans watching content on a streaming service? Almost half of American consumers are watching something on a streaming platform 7 days a week!
For Americans who work from home, streaming services can provide a welcome (or not-so-welcome) distraction, as 44% of those with a home office admit to watching content during the work day.
In May 2023, we surveyed 1,003 Americans who subscribe to streaming services to get their feedback and opinions on streaming providers. Respondents were 48% female, 50% male, and 2% non-binary with an age range of 18 to 78 and an average age of 42 years old.
When using this data and research, please attribute by linking to this study and citing dailystoke.com