Monthly Streaming Costs 22% Higher Since 2021

With the average monthly pricing for total consumer streaming platforms climbing over the past three years -- up 22% -- so has cancellation of streamers, according to MediaPost citing a Horowitz Research study.

The study finds that slightly more than half, at 52%, have canceled or dropped at least one streaming service within the past year.

The major reasons for this “churn” include price hikes and “perceived lack of value for the cost,” according to authors of the study. In addition, Horowitz added, about 30% of those who canceled cited the inability to share password and login information as a determining factor. Looking to the future, 23% of consumers plan to cancel one or more of their streamers in the coming months -- up from 19% in 2023.

Horowitz says the average total monthly price for all consumers streaming platforms is now $60.60 in 2024 -- up from $49.33 in 2021. According to industry estimates, consumers are buying around five or so streaming platforms per month.

To help with lowering their streamers' entertainment cost, 59% of streaming consumers are now more receptive to the idea of subscribing to more streamers with advertising options -- if that means lower overall monthly fees.

For example, the study says, almost one in three streamers who have Netflix now buy the streamer's $6.99/month advertising option.