AUSSIES URGED TO AVOID STREAMING SERVICE LOYALTY
Mozo found as a nation we are forking out an unnecessary $390 million a year on unused streaming services
15 July 2021
- 81% of Australians are currently subscribed to an entertainment streaming service with Netflix the nation’s favourite platform
- More than half of Australians (53%) surveyed don’t cancel a service they are no longer using
- 64% of entertainment chasers are feeding their insatiable appetite for new content with multiple streaming subscriptions
- The everyday Australian is splurging $291 a year on average on streaming subscriptions
- More than a third of streamers (39%) sign up to services to enjoy free trials with the intent of cancelling upon the completion of the trial period
- Almost half of those surveyed said Netflix (49%) is their favourite streaming service
Mozo.com.au has found that 81% of Australians are loaded up with streaming subscriptions to stay entertained this winter, but failing to cancel unused subscriptions could prove a costly mistake.
“With many of us spending more time indoors as the cold sets in, parents and kids alike will be heading to streaming services to keep themselves entertained,” says Tom Godfrey, Mozo Spokesperson.
Mozo found more than half (53%) of streamers don’t cancel a streaming subscription they are no longer using, electing to keep their options open or hoping other family members might one day login.
“Whether you’re looking to make the Queen’s Gambit or juggling Jack Ryan and Jumanji, streaming your favourite shows is a great way to chase away the winter blues, but the cost of failing to cancel a subscription you’re no longer using can quickly add up.”
By remaining diligent with subscriptions and remembering to cancel those unused platforms, Australians could save up to $148 annually by halving the number of services they subscribe to.
Australia has more than 15 streaming platforms, with the average Australian forking out $291 a year.
Mozo found almost two thirds (64%) of streamers are currently paying for multiple streaming platforms, as they surf for the latest movie and series releases.
“The great thing about streaming services is that you can pay month to month, so it's really easy to cancel a service you're not using, until the platform once again has content you find enticing,” says Tom Godfrey.
When it comes to getting the most out of a streaming service, Mozo found more than a third (39%) of streaming users were making the most of the free trial period by signing up to watch a series and then cancelled when the free period ended.
“Taking advantage of trial periods to determine whether there is enough content that interests you is a good way to decide if the monthly subscription cost is worth it.”
According to Mozo’s survey, Netflix (49%) was ranked the favourite streaming service while Disney+ (7%), Amazon Prime Video (7%), Youtube Premium (6%) and Stan (5%) were found to be growing in popularity.
Steaming Subscription Tips:
- Compare services: the price, streaming quality, device compatibility and content
- Set a reminder on your phone for the day before free trials end, to avoid being stung
- Make it a part of your quarterly checklist to review your subscriptions
- Switch to a yearly subscription for your favourite platform to download savings on offer
Notes: Mozo commissioned a nationally representative survey of 2,305 Australians conducted by Researcify between 20 May 2021 - 1 June 2021. Average yearly cost of streaming services was calculated by an average of all 2,305 respondents. National streaming spend was calculated with the average yearly spend, and the national total of households from ABS. Yearly savings were calculated using the average spend of respondents who don’t cancel subscriptions. National yearly unnecessary spending of $390 million was calculated using the average spend of respondents who don’t cancel their subscriptions, and the national total of households from ABS.