Remember when streaming was simple? No streaming wars, no subscription shuffling, no endless scrolling - just Netflix. And cutting the cord? It saved money.
Those days are long gone. The average American now subscribes to seven different streaming services and just having the right subscriptions to watch your favorite shows can get pricey fast. If you subscribe to Amazon Prime ($12.99), Netflix ($13.99), Hulu ($7.99), and HBO Now ($14.99), you’re already paying about $50 dollars a month for streaming.
And if you really do subscribe to seven different streaming services? You could be paying more than $100 a month to stream everything you want. Maybe you cut the cord, but you could still be spending even more than you were with cable.
There’s no question about it - the streaming wars have accelerated, and the number one casualty might be your wallet.In Compare Credit’s new survey conducted on behalf online by The Harris, we found that Americans under 50 are budgeting even more for streaming services this year than last year. Overall, Americans 18-34 (39%) and Americans 35-44 (49%) say they will spend even more on TV streaming services in 2021.
So how can you watch your favorite shows without losing your wallet on the battlefield of the streaming wars? Our experts have three simple tips that can help you stream in peace:
1. Consolidate Streaming Services to One Card
If you’re one of the millions of households that shares a password or a user account, it’s not always obvious who’s paying the monthly subscription bill. This is a bit like a scavenger hunt for that monthly cost - tally how many services you use each week and then look through your credit card statements to identify which cards are being charged.
The best part?
If you consolidate your payments on a single card, you get the best benefits - credit cards are offering some of the best cash back bonuses right now for streaming services. One card is even offering up to 6% cash back!
2. Get the Credit Cards with the Best Streaming Benefits.
Some credit cards offer streaming credits whenever there is a charge from a streaming service. If you’re consolidating the streaming services to one card, then this makes it easy to redeem that credit each month. Some of these benefits are $20 each month for a select service, which can essentially make at least one of your subscriptions free.
3. Conduct a TV Streaming Audit
Once you’ve got all your subscriptions on one card, review your monthly statement to look for any outlying subscription services that you might not use. In many cases, you might have signed up for a trial to watch a movie and forgotten to unsubscribe.
Also, if you know you’re paying for someone else’s access, don’t forget to ask to split the bill!
Living the Stream
We know TV streaming is here to stay, but that doesn’t mean that the monthly bill has to be just like a cable bill at the end of the month, either. Just hit pause for a second, take a look at your monthly statement, and you might be able to save some money in a few taps.
The CompareCredit survey was conducted online within the United States by The Harris Poll on behalf of CompareCredit from March 19 - 23, 2021 among 2,058 adults ages 18 and older. This online survey is not based on a probability sample and therefore no estimate of theoretical sampling error can be calculated. For complete survey methodology, including weighting variables and subgroup sample sizes, please contact Elliot.Jeffords@sovereign.co.