Global consumers watch price of streaming subscriptions as living costs rise
February 10th, 2023, Clifton Mark

Global consumers watch price of streaming subscriptions as living costs rise

Rising costs of living around the globe have led many to consider where they might cut costs. A new YouGov survey of 18 global markets indicate that groceries are the product category that the greatest proportion of consumers (55%) have become most price-conscious of over the past six months. Groceries are followed by utilities (36%) and clothing and shoes (35%). Yet those are not the only area that people are reconsidering their spending; 16% of global consumers also say they’re conscious of streaming subscription prices.

North American markets top the list of most price-conscious when it comes to streaming subscriptions. More than a quarter of Mexicans (27%) say they’re conscious of streaming prices, taking the top spot. Canadians are second with 21% and Americans are fourth with 18%.

There is significant variation among APAC markets. India is the third most price-conscious of all markets surveyed at 20%. Singapore (17%) and Australia (18%) are just above the global average of (16%) while Hong Kong (11%), China (12%) and Indonesia (12%) are well below average on this metric.

France is the least price-conscious market when it comes to streaming subscriptions at only 8%. Germany (9%) and Poland (11%) are also near the bottom of the list. Other European markets such as Spain (18%) and Sweden (17%) are nearer the global average.

Age also makes a difference to price-consciousness in some markets. Globally speaking, younger demographics are more concerned with the price of streaming subscriptions, with 18% of those aged 18-44 describing themselves as such. This drops to 16% for 45-54-year-olds and down to 12% for those older than 55.

In some markets, age correlates differently with this variable. For example, in Britain, only 13.5% of 18-24 year-olds are concerned with streaming prices, perhaps because they rely on family streaming services. However, this goes up to 22% for 25-34-year-olds, 18% for 35-44-year-olds and 21% for those aged 45-54. Concern with streaming prices drops in the 55+ age range to 12%, the lowest of all age groups. In the US, by contrast, there is little variation among age groups, with 18-24-year-olds being the least price-conscious group at 17% and 35-44-year-olds being the most price-conscious at 20%.

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Methodology:YouGov Surveys: Serviced provide quick survey results from nationally representative or targeted audiences in multiple markets. The data is based on surveys of adults aged 18+ years in 18 markets with sample sizes varying between 510 and 2044 for each market. All surveys were conducted online in December 2022. Data from each market uses a nationally representative sample apart from Mexico and India, which use urban representative samples, and Indonesia and Hong Kong, which use online representative samples. Learn more about YouGov Surveys: Serviced.

Photo by Glenn Carstens-Peters on Unsplash