(Credit: Stacey Zhu; Melnikov Dmitriy, Evikka, Yeti studio/Shutterstock.com)
Cord cutting is no longer cost cutting. The number of streaming services has been on an upward trajectory for a while now and so has their pricing.
Netflix’s more affordable, ad-free tier is gone. Max removed features from its cheapest, ad-free tier. Peacock no longer has a free option. Even Prime Video, a service whose cost flew under the radar because most people get it bundled with Amazon Prime, added commercials and is charging $2.99 a month to get rid of them.
On average people spend $61 a month on streaming in the US and nearly half said they would cancel even their favorite service if it went up by $5, according to a Deloitte study. This is all happening as companies crack down on password sharing.
So what can you do when you want to keep your streaming options open but your wallet closed? We’ve got some options.
1. Drop Live TV Streaming Services
Live TV is usually the most expensive part of any streaming plan. But if you can wait a day or two to catch up with your favorite shows on Hulu or Peacock, dropping live TV can save you a few bucks.
That doesn't mean you have to forego the thrill of channel flipping. If you have a Roku, you can watch hundreds of live channels on The Roku Channel. Just open the app and choose from what’s on. Even if you don’t have a Roku, you can download the app or go to TheRokuChannel.com and watch on your computer or mobile device.
Pluto TV, which has free streaming, also has a full lineup of live TV channels that you can watch on its site or via its apps for smart TVs, phones, tablets, and streaming devices.
2. Drop Down to a Lower Streaming Tier
The most expensive streaming tiers add perks like more concurrent streams, better video quality, and the ability to download shows and movies for offline viewing. If that's not crucial to your viewing experience, consider dropping down a tier. You might have to deal with ad breaks or do without Ultra HD, but the savings could be worth it. For instance, Hulu with ads is $7.99 a month whereas without ads, it’s $17.99 a month. And Netflix's cheapest, ad-free tier is now $15.49 per month. To check or change a streaming plan, you may have to log on via the web (versus the app). Head to the account section and look for a Subscription menu item.
3. Compare Annual vs. Monthly Prices
Paying for a plan month by month offers flexibility, but it’s also likely to add to your bill. If you know you'll be sticking with a streaming service for more than a few months, an annual plan makes more financial sense. While Netflix only has a monthly option, lots of other services—from Max to Hulu to Disney—have annual ones. For Hulu, the savings for its lowest, ad-supported tier is 17% ($7.99 a month vs. $79.99 a year). Just make sure to keep tabs on when that annual charge renews in case you get your fill of The Bear or The White Lotus.
4. Take Advantage of Free Trials
This is perhaps an ethical gray area, but if you're interested in a service for just one show, you can wait until the full season is posted, sign up for a free trial, binge watch, and then cancel. Free-trial lengths vary, so check the latest offers. Most services also require you to be a new customer.
In general, Hulu and Amazon Prime Video have the longest at 30 days. Apple TV+, FuboTV, Mubi, Paramount+, and Philo TV have seven-day free trials. Netflix and Peacock do not have free trials.
5. Put Subscriptions on Pause
You can only watch so much TV at once, so consider putting some subscriptions on pause. This suspends your ability to watch, but summer is upon us. Spend that extra money on an overpriced iced latte and sit in the sun. The benefit of pausing over cancelling is that you'll retain your queue so you won’t have to search for all your shows and movies once spooky season arrives.
Like free trials, pausing policies vary by streaming service. Hulu can be paused for up to 12 weeks (Account > Pause Your Subscription > Pause). Netflix does not let you pause a basic plan but you can put others on hold for 30 days (go to the cancel page and click Pause for 1 month). Other services, like Max and Apple TV+, do not have any pause options.
Of course, you can always cancel your subscriptions and resubscribe, based on your watching patterns and available shows. This is an increasingly common practice among consumers, so it’s likely companies will start adjusting policies to avoid such behavior at some point.
6. Find Bundled Subscriptions
Just like buying in bulk at Costco can save you money, so it is with streaming subscriptions. Corporate overlords and mergers mean some of these services are cheaper if you subscribe to more than one. A bundle with Disney+, Hulu, and ESPN+, for example, is $14.99 per month (with ads); it's $9.99 if you drop ESPN+. Showtime is now bundled with Paramount+ for $11.99 per month, while the Warner Bros. Discovery merger means Discovery content is available on Max, though the standalone Discovery+ lives on for all your 90 Day Fiancé needs.
Prime Video also lets you add subscriptions to smaller streaming services like Starz, MGM+, and BritBox via something it calls Channels. There's no discount, but billing for all the services is handled via Amazon, so you don't have to log into multiple platforms to manage your accounts.
7. Look for Discounts
Who doesn’t love a discount? Well, the companies who offer them for one, so they’re not always well-advertised. It literally pays to do a search for deals from your streaming services. Those offered via the aforementioned Amazon Channels, for example, are often discounted on shopping holidays like Prime Day or Black Friday.
While you’re at it, check if your cell phone plan has a deal. If you have T-Mobile, depending on your plan, you can get Netflix, Max, or Apple TV+ free for a year or more. Currently with some plans on Verizon, you can add the Disney Bundle (Disney+, Hulu, and ESPN+) for $10 a month or Netflix and Max for the same price.
Students have the best chance of finding a deal. They can get Hulu for $1.99 a month and can even throw in Spotify Premium for just $5.99 a month for both. Amazon offers Prime Student, which includes lots of exclusive Prime benefits and Prime Video, for college students for $7.49 a month or $69 a year. Paramount+ offers 25% off.
8. Get Cash Back
While you might hate looking at all the streaming services on your credit card statement every month, it’s possible that your card itself will pay for them. NerdWallet maintains a list of cards that will help you save on streaming, which right now includes $240 toward streaming services per year from American Express Platinum.
9. Take Advantage of Free Streaming
The biggest way to save is to turn to free streaming. We mentioned The Roku Channel and Pluto TV above with live TV and they both offer lots of on-demand content as well. There’s also Tubi, Kanopy, PBS Video, and more, all of which add new movies and shows every month.
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