Americans are hitting pause on streaming services. Spending on subscriptions dropped by nearly a quarter in 2024.
A report from Reviews analyzed consumer spending trends in 2024. According to the December report, the average American spends $42.38 monthly on streaming services. Over a year, that’s more than $508. Over a lifetime, it adds up to more than $30,000.
Most households subscribe to two streaming platforms. On average, Americans watch nearly four hours of streaming content daily.
With more than 200 streaming services available worldwide, the options may feel endless, but they come at a cost.
Streaming services have steadily increased their prices. In 2023 alone, major platforms implemented price hikes.
Netflix and Disney+ raised their rates in October, while YouTube TV’s monthly fee increased in March. Even budget-friendly options like Peacock saw price increases.
As wallets tighten, many consumers are reevaluating their subscriptions.
Netflix also disrupted the streaming market in 2023 by cracking down on password sharing. The platform introduced additional fees for accounts shared outside of a household, forcing users to consider whether the streaming giant’s content was worth the cost.
The drop in spending isn’t just about higher prices. According to Reviews, streaming fatigue also plays a significant role. Consumers report feeling overwhelmed by the sheer number of streaming apps and subscription costs.
