Buzz
The promise that 'cord cutting is cheaper than cable' is fading fast, much like other futuristic promises such as affordable ridesharing and hoverboards. Despite streaming costs now exceeding traditional cable prices, there are still effective methods to reduce your monthly expenses.
With a bit of effort and dedication, you can substantially cut down the cost of enjoying on-demand TV shows and movies. Below are 10 practical tips to help you minimize your streaming expenses.
Conduct a thorough streaming service review
To start reducing your streaming expenses, conduct a comprehensive review of all your subscription services. Scrutinize your bank and credit card statements to ensure you’re aware of every monthly or annual charge. Organize this data in a spreadsheet or use Bobby, a straightforward iOS app designed specifically for this task. Identify which services you rarely use and consider canceling them. If you feel hesitant due to FOMO, remember that canceling is free, and you can easily resubscribe if the next Stranger Things suddenly drops.
Opt for ad-supported subscription plans
While an ad for toilet cleaner interrupting Rashomon might ruin Kurosawa’s artistic vision, it’s a reality we must accept. Many leading streaming platforms now offer budget-friendly, ad-supported plans, providing substantial savings for those willing to tolerate commercials. For example, Netflix’s ad-free plan costs $15.49 monthly, whereas the ad-supported version is only $6.99. Similarly, Hulu’s ad-free tier is $17.99, but with ads, it drops to $7.99.
Embrace free streaming platforms
There are numerous free streaming services available, such as The Roku Channel, Crackle, Freevee, Pluto TV, and others. While the content might feel like it’s from the Island of Misfit Movies, these platforms provide endless entertainment at no cost (aside from occasional ads). I particularly recommend Tubi—it’s my top choice, even compared to paid services. Yes, the ads can be irritating, but since paid services are also introducing ads, the only real difference is the lack of a monthly fee.
Rotate your streaming subscriptions strategically
“Churning” refers to the practice of canceling or pausing your streaming subscriptions during periods of inactivity. For example, I only watch Severance on Apple TV+, so I cancel my subscription between seasons and resubscribe when new episodes are released. Numerous tools and methods can simplify this process—Mytour has even published a comprehensive guide on managing streaming subscriptions.
Leverage bundled subscription deals
Bundling involves subscription services offering reduced rates for combining multiple services or linking discounts to unrelated products. For instance, starting Sept. 6, 2023, Disney will introduce an ad-free bundle for Disney+ and Hulu priced at $19.99 monthly, representing a 37% savings compared to individual plans.
With countless promotions available, it’s hard to provide specific advice, but nearly every industry might collaborate with streaming platforms. A great starting point is your mobile carrier—T-Mobile, AT&T, and Verizon all provide free or discounted streaming perks, and Apple frequently includes Apple TV+ subscriptions with new device purchases.
However, bundle wisely: Companies offer these plans to retain your loyalty, so if you only use Hulu, adding Disney+ isn’t a savings, even if it’s just a few extra dollars.
Make the most of free trials
If you’re diligent about canceling before being charged, you can enjoy a significant amount of content through free trials. While not as common as before, many services still offer a free month to new users—such as Apple TV+, Hulu, and Prime Video. You can’t repeat the trial with the same service, but a friend willing to share their account can sign up once your trial ends, provided their payment details differ. Voila: two months of free streaming.
Share passwords and profiles while it’s still allowed
Netflix recently made headlines for restricting password sharing. While there are workarounds to Netflix’s restrictions, other platforms are more lenient. Max officially “frowns upon” sharing but doesn’t enforce strict rules. Hulu permits multiple logins as long as you “check in” at your primary location monthly. Apple TV+ doesn’t explicitly ban password sharing, though this could change. Amazon Prime’s Household feature allows up to three active profiles, but ensure you trust the users, as they can make purchases on your account. Peacock discourages sharing but allows six profiles and hasn’t enforced restrictions on usage outside the home—yet.
The key takeaway: understand the limitations, exploit the rules where possible, or, if you’re daring, bend them. While violating terms of service won’t land you in jail, it could potentially result in being banned from the service in the future.
Explore your credit card perks
Numerous credit cards provide rewards tailored for streaming services. For example, the Amex Blue Cash Preferred card offers 6% cash back on streaming expenses. For broader entertainment rewards, the Capitol One’s Savor One card grants 3% back on streaming, dining, and groceries. Many cards also feature exclusive promotions for specific streaming platforms, which can further reduce costs. While 3% may not seem substantial, every bit helps if you’re already using a credit card for payments.
Opt for annual subscriptions over monthly payments
Most streaming services offer discounts for annual subscriptions. If you’re certain you’ll continue using Paramount+ for the next year, paying upfront can save you money. For instance, The Criterion Channel, a niche service, costs $11 monthly or $100 annually, effectively giving you nearly three months free. While this eliminates the option to “churn,” it’s a cost-effective choice for dedicated users.
Leverage student discounts for streaming services
Students who love streaming are in luck. Peacock offers a year of service for just $1.99 per month. Hulu’s student plan reduces the ad-supported subscription from $7.99 to $1.99 monthly. Amazon provides one of the most attractive student deals—Prime Video is free for six months, followed by $7.49 monthly as long as you’re enrolled, along with perks like free Amazon shipping, Amazon Music, Prime Gaming, and more.
