5 Ways to Save Money on Online Streaming Services

Online streaming services have seen significant growth in recent years, and many people have several subscriptions to enjoy streaming TV shows and movies. While this provides a fantastic array of entertainment, the cost can be extreme. This article aims to help by providing some tips to save money.

Consider switching to a different plan

Netflix has three different plans to choose from. The main differences between each of its plans are the quality of the screen resolution and the number of devices that be watched at one time.

It’s natural to think if you have a 4K TV, that that’s the right plan to choose. However, remember only a small number of Netflix’s titles are currently produced in 4K, and you might not even get 4K quality if your internet connection is slow. Equally, the difference between high and standard definitions is not as significant as you think, so even the basic subscription can work for many people who only need to watch Netflix on one device at a time.

Think about buying a subscription up-front for a year

It’s easy to get stuck into the habit of paying for a subscription each month. Logically it only costs a small amount of money and won’t leave much of a dent in your disposable income. However, as mentioned, if you have a lot of these subscriptions, they soon add up. Sometimes, you have the option to pay up-front for a year, and you can save some money by doing so.

The best example of this is Amazon Prime and Amazon Music Unlimited; both services are available for a yearly subscription instead of monthly. You effectively get two months free if you opt for the annual option (plus the Amazon Prime subscription offers other benefits such as free shipping). While other services may not officially have a yearly option, you can often extend for several months through gift vouchers. Although this doesn’t save you money, it may help you manage your monthly costs.

Get a free subscription by buying something else

Brands know how popular streaming services are, so they often offer free subscriptions for various purchases. Typical examples of this include new TVs, laptops, or mobile phone contracts. Of course, you shouldn’t buy any of these things simply to get a free subscription because that wouldn’t be a good way to save money.

However, if you were in the market for one of these purchases, saving on an existing subscription you have is an additional perk. In some cases, free or discounted subscriptions are available within a service you have or if you renew your contract. Therefore, it’s certainly worth looking into this as a way to save money.

Cancel auto-billing and renew each month

One of the reasons brands love subscriptions is because people forget they have them. They sign up in month one, and the subscription automatically renews each month. The problem with this is the brand takes you for granted, and they don’t need to offer you anything to keep you as a customer. This is one of the reasons you see offers for new customers only.

You can take a straightforward action to make streaming brands anxious about losing you as a customer. Cancel the automatic billing once your latest subscription charge goes out of your bank account. This allows you to reevaluate the subscription when it expires and means your renewal will be more mindful. In addition, after the subscription expires, you may receive a special offer to renew it. When you make the brand think you might cancel, the renewal offers should start rolling in.

Look into a shared plan if you live with others

Some people share streaming subscriptions with friends and family who don’t live with them and encourage others to do the same. This is not advisable, and against the terms of service in some cases. Netflix is cracking down on this practice.

However, if you live in shared accommodation of some kind, such as with family or friends, a shared subscription could save you money. Keep in mind a potential cybersecurity threat and check your account for logins from anyone outside your household. Of course, if you share a streaming subscription, make sure the password you’re using isn’t being used on any account you have elsewhere.

Online streaming is already extremely popular and will only grow in popularity. Of course, that’s great for providing a lot of entertainment choices. However, it can mean that you spend a lot of money on streaming each month, which can quickly get expensive. Remember to consider switching to a lower-cost plan, think about buying a subscription up-front for a year, get a free subscription by buying something else, cancel automatic billing every month, and look into a shared plan if you live with others.