The Hidden Costs of Streaming: Are You Paying More Than Traditional TV?

 

The Hidden Costs of Streaming: Are You Paying More Than Traditional TV?

In the early days of streaming, the promise was simple: cut the cord and save money. However, as more streaming services have emerged, the costs have started to add up, often surpassing traditional cable or satellite TV bills. Keeping track of all the different services and which offers what shows has also become a challenge. Let’s dive in and explore some strategies to manage these expenses.

The Rising Costs of Streaming

When streaming services like Netflix and Hulu first launched, they were seen as cost-effective alternatives to cable TV. However, the landscape has changed dramatically, especially with the proliferation of many new streaming services. Today, most households subscribe to multiple streaming services to access a variety of content. On top of that, each streaming service has started tiering the content within it to options with ads, without ads, higher quality video and sometimes even the ability to download content to watch offline. The costs quickly start to skyrocket as you choose the more premium tiers and capabilities.  

Strategies to Save on Streaming

Despite the rising costs, there are ways to manage your streaming expenses effectively. Here are some tips:

1. Take Advantage of Free Trials: Many streaming services offer free trials ranging from one week to a month or more, offering both new customer as well as sometimes returning customer trial opportunities (Amazon and Apple are just some examples of services that offer trials for returning customers). This can be a great way to enjoy content without committing to a subscription. *Pro Tips: Best Buy offers you the ability to 'purchase' for free, trials to many popular streaming services (such as from Apple, YouTube, etc. - just search ‘trial’ at BestBuy.com). Also, once you sign up for a free trial, make sure to immediately cancel it, if possible (most free trials allow you to finish out the term of the free trail once you cancel, just read the fine print🔎) - this will help you avoid having to remember to cancel the service before it renews. 
2. Bundle Services: Bundling can save you a significant amount of money. For instance, the Disney+ bundle is well worth it if you watch content from Disney, Hulu & ESPN. Cell phone carriers and even traditional cable & satellite carriers have started offering bundles as well. Verizon, for example, offers customizable add-on bundles to cellular service that can save a significant amount over signing up directly with the streaming provider (as an example, my current plan offers the Disney+ bundle w/ ads for free as part of my cellular service).
3. Rotate Subscriptions: Instead of subscribing to multiple services at once, consider rotating them. Subscribe to one or two services for a month, binge-watch your favorite shows (like House of the Dragon on Max), then switch to another service the next month. By the time you circle back, you may be eligible for a returning customer free trial!
4. Look for Discounts and Promotions: Keep an eye out for special promotions or discounts. Some services offer reduced rates for students, military personnel, or through certain credit card promotions. For example, Peacock, Amazon and Apple have all offered a student discount for their services. Peacock also recently offered a steeply discounted premium annual plan ($19.99 for the year vs. $59.99) if you paid for a year up front, and NFL+ recently offered a free month of service for new and returning subscribers via a partnership promotion with Frito-Lay. Through my Amex Platinum credit card, I receive a complimentary Walmart+ subscription, which in turn provides a complimentary Paramount+ subscription; the Amex Plat. also provides a $20 monthly digital services credit that I use to get other streaming services such as HBO Max for free as well (reference my prior post about credit card perks here).
5. Share Subscriptions: Some streaming services allow account sharing. While this is becoming more restricted, it can still be a viable option for families or close friends. Some examples of services that offer family plan accounts are Netflix, Amazon, and Hulu.

Conclusion

While the convenience and variety of streaming services are undeniable, the costs can add up quickly. By taking advantage of free trials, bundling options, and other strategies, you can enjoy your favorite shows and movies without breaking the bank🏦. Happy streaming!

-ItsBigZee

P.S. Do you have any other tips and tricks you use for streaming services? Let us know in the comments below!