The streaming revolution was supposed to usher us into an era when things were cheaper and you could buy more things a la carte. According to Deloitte’s 19th annual Digital Media Trends report, though, people are still paying plenty, and they aren’t necessarily happy about it.
According to the report, people are paying $69/mo. on average for four streaming services, which is a 13% increase from a year ago. Cable or satellite customers are still paying more, though, with their average cost coming out to $125/mo. 47% of those surveyed said that they are paying too much for those services, and 41% said that they don’t believe the price they pay is worth it for the content available on these platforms, whic his up 5% from the last report.
The report also indicates that younger generations of consumers are more willing to cancel subscriptions, are that many are opting for ad-supported tiers in order to save cash. $14/mo. was seen as “just the right price for a streaming service,” with the report suggesting that any price over $25/mo. was seen as too much.
In addition to these findings, the report also suggested that younger consumers are more likely to suggest that social media personalities are more relevant and relatable than TV or movies, a pronounced shift in where culture is happening that could be enduring. Overall, though, the report suggests that streamers might be nearing the limit of how much they can squeeze consumers for higher prices. Subscription prices have continued to soar, but at some point, everyone has their limit.
