Club Benefits
I just cut my monthly streaming bill by 60% — here's why I'm canceling Amazon Prime, Paramount+, Disney+ and more
It’s easy to rack up an eye-watering monthly streaming bill without really noticing; in fact, streaming services bank on it. A $15-20 a month bill sounds like no big deal in isolation, but when you subscribe to half a dozen services, those costs add up. Before you know it, and without really even being aware of it, you can find yourself spending serious money per month.
I’m the perfect example. Naturally, as part of my job as an entertainment editor, having access to multiple streaming services is extremely useful (arguably, it's a professional necessity). Mix this with a dash of financial carelessness, and boom, it’s a recipe for far too many monthly fees coming out of my bank account.
With the recent launch of the Tom’s Guide Saving Squad (check it out if you need help making your life cheaper), the whole TG team has had money on the mind lately. That made now the perfect time to get a full picture of exactly how much I was spending per month on streaming, and more importantly, to whittle down my spend to something more plattable.
I was overdue for a rethink of my subscription spending
Until now, I hadn’t realized quite how much I was spending per month on streaming. If you’d asked me to estimate a total, I’d probably have said in the region of $50 max. But after combing through my bank balance (note to self: I also spend far too much money on groceries each week), I was quite stunned to discover that I’ve been paying about $90 per month.
That cost doesn’t even factor in other monthly expenses like my gym membership, unlimited cinema card and annual PlayStation Plus subscription, which are all non-negotiables for me, so they were off the table when it came time to figure out a way to reduce my expenditure.
Still, $90 per month is far too much to spend on streaming services, and I don’t even have the spare time to make proper use of all these platforms at once. It was time to get serious about unsubscribing to at least some of them. That money could be better used elsewhere.
My methodology for determining which streamers to cancel was simple, but effective. Because I’m paying monthly for each, I decided to audit how often I actually used each service. If I’m paying $15+ each month for a service, I should be using it pretty regularly, right?
With this method, I was able to reduce my streaming spend to $36 per month, a 60% drop. Below are the results of my audit and my rationale for which service I'm keeping and the ones I'm waving goodbye to (for now).
Streaming services: Keep or cancel
Netflix ($19.99)
This was probably the easiest call to make. Netflix is the world’s most popular streaming service, and to give you a peek into how the sausage is made, the platform that Tom’s Guide readers are most interested in reading about. Plus, it’s the streamer I use the most by a wide margin, and I split the monthly cost with my partner. I'm definitely keeping Netflix.
Decision: Keep
Amazon Prime ($14.99)
Like most people, I get access to Prime Video as part of my ongoing Amazon Prime subscription. I had thought this would be another easy call to keep. However, much like my colleague Mike Prospero recently found, when I dug into how much I actually use Amazon Prime benefits, I was surprised to see how rarely I order items from Amazon (and I've never even touched Prime Music). And while Prime Video does have a solid library, I buy/rent movies on the platform more often than I watch Prime content, so I’ve decided to cancel, and can always resubscribe down the line.
Decision: Cancel
Paramount+ ($13.99)
There's a caveat with this one. I’ve been enjoying Paramount+ for almost a year as part of a free trial. It’s a good service, maybe even a bit underrated. I love having access to every episode of “South Park” for background streaming. However, I’m a movie guy first and foremost, and I don’t use the platform near enough to start paying for it when the trial ends.
Decision: Cancel
Disney Plus ($15.99)
I’ve had Disney+ since it launched, and to be honest, I don’t know why. Like most millennials, I have heaps of nostalgia for the House of Mouse's vast vault, and until I was struck down with a wicked case of Marvel fatigue a few years ago, I was a huge MCU fan. However, I seldom use the service, and when looking for something to watch, Disney+ is rarely, if ever, my streamer of choice. With constant price hikes, Disney+ is getting axed.
Decision: Cancel
YouTube Premium ($15.99)
A big part of me really wants to cancel YouTube Premium. I used YouTube daily without Premium for more than 15 years without (much) issue. But after experiencing ad-free YouTube (and the extra benefits Premium brings like offline downloads), it would be mighty tough to go back now. There’s also the consideration that YouTube is the platform I use the most on this list by a mile (I’m addicted to watching Jet Lag: The Game at present). So, I do get an awful lot of value from Premium. I’m keeping it for now, but I’m definitely open to changing my mind at a later date.
Decision: Keep
Audible ($8.99)
It’s no tin-foil-hat conspiracy theory to believe that subscription services hope you sign up and then forget. That’s the case with Audible and me. I didn’t even know I was still signed up. And hey, I like audiobooks, but it takes me months to get through just one, and I’ve now built up half a dozen “credits.” I’ll spend those, and then Audible will be canceled quickly.
Decision: Cancel
How many streaming services do you actually need?
My biggest takeaway from this process was really pondering how many streaming services one person needs. There are only 24 hours in a day (and a big chunk of that spent in sleep) and more content than you could watch in a lifetime out there. Does anybody really need to subscribe to five or six platforms all at once?
I know I sure don’t. Sometimes it's easy to subscribe to a streamer for a particular show or movie you don’t want to miss, and then sit on the subscription for months until the next “must-watch” piece of content arrives. I’m not saying I’ll never return to the likes of Disney+ or Amazon Prime, but I'll be selective. I’ll adopt the mindset of subbing, canceling, resubbing (repeat) as needed, rather than just subscribing indefinitely.
If you’re also subscribed to more services than you probably need, I encourage you to take stock of your own streaming portfolio. Consider how often you use each one, and how much you’d miss not having access to them today. You might be surprised how much money that can save.
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