US households are spending close to $50 a month on streaming

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Half of those polled have subscriptions to at least four services

 

American households are now spending an average of $47 per month on streaming services. That’s up from an average of $38 back in April 2020 at the onset of the global pandemic and is an indicator that consumers are increasingly ditching traditional cable and satellite services in favor of more affordable streaming offerings.

The data could also be a signal that people are increasingly spending more time indoors in an effort to slow the spread of Covid-19.

In a survey of 1,745 US adults, J.D. Power found that half of respondents said their household now subscribes to at least four streaming services. In April, only 39 percent of those polled had subscriptions to at least four services.

The survey further revealed that 13 percent of those questioned used as many as seven or more services.

In terms of popularity, Netflix is still king. A full 81 percent of respondents said they subscribe to the streaming giant, a figure that is down four percentage points since April 2020. Five of the six closest competitors – Hulu, Disney+, YouTube TV, HBO / HBO Max and Apple TV – all gained ground since the last survey.

NBC’s Peacock, which hadn’t launched at the time of the last survey, is subscribed to by 18 percent of respondents.

Image credit Said Marroun

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