Sergio Flores from NBC 7 and Telemundo 20 Responds has some tricks to lessen the blow to your budget.
Streaming services have become a way of life for so many families.
We tend to sign up for special promotions and then never get around to canceling and alone each service may not take a financial toll, but when you add them all up, it may just hit differently.
Whether on your phone, tablet, or smart TV, streaming platforms are competing for your entertainment dollars and it appears they’re all winning.
“If you add up all the services you’re subscribed to in a year, you’re probably going to go through a bit of a sticker shock,” said Jim Wilcox with Consumer Reports.
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Wilcox adds that streaming services are no longer licensing their shows to Netflix. You used to be able to get almost everything on either Netflix or Amazon. Now, there's Peacock, Paramount +, Disney+, and a whole lot more to be sure. Many of them have original content that will hook you with a special promotion.
A lot of consumers forget that they subscribed to a service and then three months later they’ll look at a credit card bill and will notice they forgot to cancel.
Once you decide you’d like to pay less as we get through the holidays, there are some things you could try out.
- Consider Ads: Many streaming services offer lower prices as long as you're willing to sit through some ads.
- Bundle and cut: Bundle offers when you can and cut the ones you may not have signed onto in a while. See if you miss it. You could always sign back up.
- Service hop: It’s a recent phenomenon says Wilcox seemingly spurred by the cost increases.
“Service hoppers are jumping in and out of services. The streaming services don’t have contracts, so you can sign on for a month binge all you want then quit that service and jump to another one,” said Wilcox.
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Strategies that alone or together could free up some money for the holidays and going into 2024.
Another way to look at this expense is to not let streaming services determine how much you pay, but rather, set a budget first and then find the services that are the best fit for you and your family.
Other places to look for savings:
- Cell phone plans: Some come with a free year of services from certain streaming platforms
- Cable company: If you still pay for cable, you may have free access to some streaming platforms
NBC 7’s parent company, NBCUniversal is a subsidiary of Comcast Corporation, which owns Peacock.
