Here’s What the Average American Spends on Streaming Entertainment. Are You Overpaying?

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The cost of streaming content can really add up. Read on to see if you’re spending more than you should be. [[{“value”:”

We all have monthly bills that we really have no choice but to pay. I have to cover my mortgage every month to ensure I have a roof over my family’s head. And while I can shop for groceries carefully to limit my spending, I have to put food on the table.

But the five — yes, five — different streaming services I pay for are definitely not necessities. And at times, I’ve questioned whether I should be spending the money on so many streaming packages at the same time.

Recent data, however, confirms that I may not be such an outlier in terms of paying for streaming content. It turns out the typical American’s monthly spending is remarkably similar to mine.

What consumers are spending on streaming content

The average American spends $75 a month on in-home streaming and entertainment, according to a recent survey by Equitable. And I’ll come clean and say that’s comparable to what I spend, too. I’ll also be even more honest and admit that on top of my five streaming services, I also spend money each month on cable.

But here’s the thing. All of the streaming services I pay for give me good value.

There are five of us in my household, and while I can’t remember the last time I turned on Disney+, my kids watch it all the time. I also don’t tend to watch Hulu, but my husband does, so it’s worth keeping. And while I do pay for ESPN+ somewhat grudgingly, since certain games are exclusive to that service and I’d have to miss them without a subscription, bundling ESPN+ with Disney+ and Hulu saves me some money.

In fact, the way I see it, spending $75 a month on streaming content is the equivalent of spending $2.50 per day. And in the absence of at-home entertainment, you might spend a lot more than $2.50 to keep busy for a few hours. So my philosophy is that if you’re using your streaming services, then you’re not overpaying — even if your personal spending total is more than $75.

Similarly, if you only have a single streaming service and pay just $15 a month for it, it may be that you’re wasting your money if you can’t remember the last time you watched it. So don’t assume that you’re not overpaying just because you only have one or two subscriptions.

Do a spending audit every few months to avoid wasting money

If you’re living paycheck to paycheck with no money in your savings account whatsoever, then it may be time to cancel one or even all of your streaming services until your financial situation improves. But if you’re doing fine financially and you’re enjoying your streaming content, then why not keep paying for it? You might spend a lot less than you would by having to pay for entertainment outside the home.

That said, one thing I try to do is audit my personal spending every three to four months to make sure the recurring expenses I’m paying for are still giving me value. Some time ago, I canceled HBO Max after realizing I was hardly ever watching it. And while I’ve since replaced it with something else, at least I’m not wasting money on a subscription I don’t use.

I suggest combing through your expenses — not just your streaming services, but everything you pay for on a monthly basis — once a quarter or so to make sure you’re not wasting money. But otherwise, if you’re spending money on streaming content you actually watch, don’t feel bad about it — even if you’re juggling multiple subscriptions like I am.

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