Streaming services such as Netflix and Spotify have boomed in popularity in recent years, but they’re also a luxury many people now can’t afford.
The average UK streaming subscription costs around £7 a month, but if you have more than one service, and many of us do, the cost can rack up. As the cost of living soars, this may be why more than a quarter (26%) of Brits are looking to cut their TV and music subscription services, according to research by Barclaycard.
If you’re looking to reduce the cost of your streaming services, there are lots of things you can try that will mean you can keep your services, but pay considerably less for them.
Here, we explain some ways you might be able to save money on your streaming services.
1. Choose an annual plan
Similarly to insurance providers, some streaming services will offer you a discount if you pay annually instead of monthly.
The two main platforms that offer a discount are Disney+ and Amazon Prime, which both currently offer 12 months for the price of 10 when you pay annually.
Of course, this is really only cost-effective if you know you will use the service regularly, and for at least a year. If you aren’t sure whether you’ll use it much, paying monthly might ultimately be cheaper as you can choose to cancel if you find you aren’t using the service enough to make it worthwhile
2. Share subscriptions
| Platform | Individual price per month | Two person price per month | Multiple person price per month (number of users) |
| Apple Music | £9.99 | – | £14.99 (up to six users) |
| Spotify Premium | £9.99 | £13.99 | £16.99 (up to six users) |
| Tidal (Music) | £9.99 | – | £14.99 (up to six users) |
| Youtube Premium | £11.99 | – | £17.99 (up to six users) |
| Netflix | £6.99 or £4.99 for their basic package | £10.99 | £15.99 (Up to 4 screens simultaneously) |
3. Opt for ads
While the beauty of streaming services is that you can watch your favourite programmes uninterrupted, if you don’t mind watching an advert or two, it could save you money in the long run.
Netflix has recently announced that from November UK customers will be able to subscribe to a new “Basic with ads” package which is £4.99 a month, £2 cheaper than their normal basic package.
In this new package, you’ll still be able to watch the majority of shows in HD on one device, during which adverts will be shown before or during the programme or film. However, with the cheaper price tag come some limitations. Unlike the other packages, certain shows and films won’t be included due to licensing issues, and you can’t download anything to watch offline.
4. Find bundled services
While some platforms will be better known for a particular service such as TV series or music, some subscriptions offer a wide range of bundled services.
Amazon Prime, for example, includes Amazon Prime delivery, Amazon Music, Prime Reading and Prime Video for £7.99 a month (rising to £8.99 in September). If you were to pay for these services individually, it would cost you around £15 a month, and that wouldn’t include free next-day delivery on Prime orders.
It’s also worth noting that a number of mobile network providers will often allow you to add streaming services onto your mobile phone contract either for free or for a reduced price. Three, for example, is offering Disney+ and cashback on some of its current deals, while EE offers access to Apple Music, Apple TV, Netflix and BT Sports as Smart Benefits, which you can add on to your plan. Make sure that adding it to your phone bill is cost-effective before you commit to it, as you don’t want to unnecessarily pay over the odds.
5. Rotate your subscriptions
This option takes a bit more effort than others, but rotating your streaming services could dramatically reduce your subscription costs.
This means choosing the services you actually use and creating a monthly schedule to switch between them. So rather than paying for four subscriptions simultaneously, you only pay for one or two at a time.
Exactly how much this could save will depend on several factors, but considering that having all of the popular streaming platforms in the UK will set you back more than £600 for the year, cutting this down to less than £10 per streaming service each month will save you a lot of money.
To rotate your streaming subscriptions, you should do the following:
- Make a list of the services you want to rotate between – Spend a little time looking at which have what you’re looking for and when you’re most likely to use them. Maybe you want to try some out, or there are some you definitely want.
- Create a rotation schedule – Services often have release dates and seasonal changes when it comes to their streaming content, so you’ll need to work out when you are most likely to want access to each one. For example, if you love Netflix’s range of Christmas films, it might be worth scheduling that for December, or if you know when your favourite show is going to be released on Disney+ mark that down in your schedule.
- Sign up and cancel your memberships at the right time – This may seem a little complicated, but it’s a vital part of the rotation process. Make sure you’re aware of each platform’s rules for billing periods and cancel your subscription before you’re billed for the next month.
There is obviously a fair amount of admin involved in rotating your subscriptions, but if you can make it work, it could save you hundreds of pounds a year.
6. Make the most of new joiner discounts
Streaming services are competing for your custom and many will offer an introductory discount or free week to try out their services. Amazon Prime, Apple TV, Now TV and BritBox all offer a free seven-day trial, while YouTube Premium, Tidal, Apple Music and Spotify offer 30 days for free if it’s your first time using them.
Of course, there’s only so far this will go, but in the short term, you could save a bit of money and see whether you will actually use the service.
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7. Find free alternatives
Of course, there’s no need to pay for subscriptions if you are happy with the free alternatives. There are plenty of free on-demand TV options available, including BBC iPlayer, All 4, ITV Hub, and My5. There are a number of programmes that are on both free services and paid-for options. For example, Derry Girls and The Great British Bake Off are on Netflix, but you can also watch them for free on All 4.
There are a number of ways to access these free on-demand options – you can either search for them online or if you have a smart TV, you might be able to stream them through Freeview.
If you want to stream music for free, YouTube has pretty much any song and artist you can think of, or you could always stick to listening to your radio or free podcast platforms.
8. Start from scratch
If you want to cut back on all of your streaming services, but aren’t sure where to start, one option is to cancel all of your subscriptions and only resubscribe to those you really miss after a few months.
It’s easy to feel reliant on Netflix for your evening entertainment, for example, but by cancelling all of your subscriptions and giving yourself a bit of breathing space, you might save some of your hard-earned money each month, and find other activities to fill your time.
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