In theory, streaming services help you save money by allowing you access to a virtual library of content, without forcing you to buy each piece of content. We subscribe to multiple services because no one service has everything. Complicating matters further, consumers have the choice of multiple offerings for very similar libraries, like music streaming. We may want Spotify because it has better playlist curation and suggestions, but Apple Music has lossless, high-resolution audio, so which do we choose?

Too often, we get hooked into subscription services because we want a specific feature or sign up for a trial subscription and never cancel the service. Today, we are going to uncover how much these subscriptions are costing and provide tips to get as much content as possible for as little as possible.

It is not uncommon to have a subscription for TV, movies, music, news, and sports. If each one averages $10 a month, we are paying over $50 a month for this content. Not to mention other subscriptions one might have for shopping, food, etc. The Colorado minimum wage is just under $15 per hour, meaning it takes more than three hours for a minimum wage employee to pay for these subscriptions. This is not to say that streaming services or subscriptions are not a good value, but you may want to reevaluate how much you use them and explore more cost-effective alternatives like bundling or discounted/free options. 

Bundles –

Many companies own multiple streaming services or partner to offer compelling packages for less.

Apple One –

If you’re an Apple diehard, you could save from subscribing to Apple One which costs $19.95 for an individual. Compared to buying Apple Music, tv+, Arcade, and iCloud+ each separately, you save $9 a month.

Disney+/Hulu/ESPN –

Parent company, Disney, encourages you to bundle Disney+ with their other offerings like Hulu and ESPN. If you are a sports fan or want the option of two TV/movie platforms, this is a good option. The company will allow you to bundle with HBO’s Max too. Savings range between 42% to 46% off, depending on the package.

Group Discounts –

All of the mentioned streaming services and many more offer discounts when you pay for multiple accounts through a “household”. This is a good idea if you have friends or family that utilize the same service.

Spotify –

Family plan costs $19.99 a month for up to six accounts, which would cost $72 if individually purchased. Duo plan costs $16.99 a month for two accounts.

Apple Music –

Family plan costs $16.99 a month for up to six accounts.

Student/Military Discounts –

Many subscription-based services offer discounts for certain employment groups or age ranges, like senior or youth discounts. Discounts can be as much 50% in some cases.

Free Services –

While some content is locked behind a paywall, there are many services today that offer free, ad-based libraries.

Tubi –

A free TV and movie content platform owned by Fox Corporation, offers thousands of popular shows and movies just like Netflix or Disney+, just with ads.

Pandora –

Once the most popular music streaming service, Pandora offers customized radio stations or playlists with commercials at no cost to the user.

Get Points For Your Subscriptions

Using a credit card for subscriptions not only allows you to build credit and easily dispute unauthorized charges without cutting into account balances, but it also allows you to score points for gift cards or cashback. Credit Union of Denver offers credit cards at much lower rates compared to competitors, check out current offers.

---

Whether it be bundling your services or opting for free versions, it is important to keep an eye on cash outflow for subscriptions. Media and content companies make it easy and enticing to sign up, with the hope that we will forget about them and never cancel. Staying on top of streaming services will enable you to stretch your cash further.

*Values listed are accurate as of 10/24/24