Hard-up US viewers cutting other household expenses to keep streamer subs, Bango report finds

Despite the cost-of-living crisis in the US, 30% of streamer subscribers still pay for four or more OTT services, with a third of those polled admitting they cut back on other household expenses to keep up streaming payments.

Paul Larby

The statistics were revealed in a new report commissioned by Cambridge-based mobile payment platform provider Bango. The survey, conducted by independent research agency 3Gem, interviewed 2,000 US SVoD subscribers.

While household budgets are under strain in the US, with 75% of Americans reporting soaring prices and inflation, according to a recent Harris poll, it appears that many are still finding ways to protect their streaming subscriptions.

One in three (34%) cut back on other basic domestic costs to maintain their monthly streaming plans, while 30% pay for multiple SVoD services. The Bango poll found that 63% can’t afford all the streamer subscriptions they want, while 55% describe their combined platform payments as “too expensive.”

Looking at the platforms which subscribers prioritise, 60% named Netflix as their ‘forever subscription,’ almost twice as many as Prime Video (31%) with Hulu named by 24%. Disney+ was the most popular with younger audiences, with 28% of Gen Z viewers naming it their most important subscription.

Netflix’s popularity isn’t solely reserved to the US, with 80% of UK subscribers declaring it their favourite platform.

Nearly two-thirds of US subscribers (65%) reported that they would prefer bundled streamer packages over direct subscriptions to help save money, with one in five (22%) taking up bundled deals in the last six months.

Paul Larby, CEO, Bango, said: “Subscribers refuse to give up on streaming – they just keep spending. But they’re re-balancing that spend to protect the streamers they love the most.

“They’ll cut back elsewhere, tolerate ads if the deal’s right, and move up or down tiers when new options land. But a key point is that for most people, Netflix is a non-negotiable ‘Forever Subscription.’

“For SVoD teams looking to grow their subscriber base in this market, the brief isn’t ‘add more content,’ it’s ‘productise choice.’ Offer clear ad tiering options to keep subscribers paying and make upgrade/downgrade as easy as play/pause. Treat ‘forever’ as a distribution strategy by bundling alongside the brands people never cancel.”