Despite price hikes, Americans spent less on streaming services in 2024

Price hikes on our streaming music and video services have become inevitable. Not one major streaming service changes the same amount for a monthly subscription now as it did at launch. Despite this unfortunate phenomenon, a new report finds that Americans spent less per month on streaming services in 2024 than they did in 2023.

According to the latest consumer media spending report from Reviews.org (via TheWrap), the average American spends $42.38 per month on streaming subscriptions. That’s down from the $55.04 per month they spent in 2023, which is a decrease of 23%.

In order to determine how much Americans spent on streaming services this year, Reviews.org surveyed 1,000 Americans. They then used the survey results to figure out which services were most popular and based their figures on the standard pricing of those services.

Of the people surveyed, 27.8% said they experienced streaming fatigue, defined as “the feeling of being overwhelmed with the increasing number of streaming apps.” Americans still spend an average of nearly four hours per day on streaming services, but we are seemingly less likely to jump between multiple streaming services than we were a year ago.

In fact, the average American subscribes to just two streaming services, according to the survey. Considering how many streaming services there are—Netflix, Hulu, Disney+, Max, Paramount+, Peacock, Prime Video, Apple TV+, and Crunchyroll—that’s a shockingly low number.

But beyond streaming fatigue, many services have likely priced some consumers out by raising prices repeatedly over the years. Netflix’s cheapest plan without ads is now over $15 per month. That’s a 55% increase over the original Standard price, and you can’t even share your account with a friend without paying an extra $7.99 per month.

No wonder Americans are spending less on streaming.