Has the rising costs of streaming services and everyday needs forced you to start looking at cutting costs? In 2022 Inflation in the united states went up 8% and is expected to be 4.5% in 2023, according to Statista. This has left many Americans looking for ways to save money, including cutting back on what they pay for streaming services.
According to Plex’s Study conducted by OnePoll 38% of Americans plan to cancel or limit the number of streaming services they pay for. 31% are looking at downgrading to cheaper options, including plans with ads. 29% say they plan to share login details with family and friends to cut costs.
How Americans are saving money on streaming according to Plex:
- 38% are canceling or limiting the number of streaming subscriptions they pay
- 30% are downloading or creating accounts for additional free streaming services
- 31% are downgrading paid streaming memberships to a less expensive tier with ads
- 29% are sharing login details for streaming apps with friends and family
*Data from a survey conducted by OnePoll on behalf of Plex from May 15 to May 21, 2023, with a panel of 2,000 Americans who subscribe to a streaming service.
The high cost of everything is likely a big part of why free streaming services like Plex, The Roku Channel, Pluto TV, Tubi, and more have all grown in popularity recently. After years of struggling for attention, free ad-supported streaming services are one of the fastest-growing areas in cord cutting.
Before 2020 the average cord cutter paid for 3 to 4 subscription services, according to our surveys. In 2021 that number grew to almost six services. Now it has slowly been starting to fall back down closer to the 3 to 4 services Americans are willing to pay for.
Have you cut back recently on the number of services you are paying for? If so, why did you cut back? Let us know what you think.