If taking the plunge and signing up for one of the best streaming services feels too expensive right now, then you're not alone. According to new research, Aussies are paying 16% more year-on-year in subscription fees for streaming platforms.
According to Worldpanel's Entertainment on Demand data on Australia's video streaming market, in Q4 2024, average monthly spending on streaming services rose to AU$50p/m, up from AU$43p/m in 2023.
In the past year, every major service — think Netflix, Stan, Binge, BritBox, Disney Plus, Prime Video and Paramount Plus — has implemented price hikes for subscribers, with plans costing a maximum of AU$25.99p/m for Netflix's premium tier.
The data also reveals that the total video on demand market (VOD) has remained stable, with just over three-quarters of Australian households holding at least one subscription. The average number of services has bumped up to 3.2 from 3.0. However, users are switching to ad-supported plans, with 28% of households watching ads rather than paying for a premium service.
In terms of streamers, Prime Video scored the highest number of new subscribers in Q4 2024 thanks to its inclusion in the Amazon Prime membership (and speedy festive season delivery). Meanwhile, Paramount Plus became the second most popular service due to a Black Friday discount, and the return of Yellowstone to Stan boosted its numbers, yet the streamer remained flat year-on-year. Binge came fourth overall in new subscriber count for the quarter, and sister site, Kayo Sports grew by 16% ahead of the summer sporting season.
As for most watched titles, Yellowstone once again reigned supreme for most watched show of the quarter, while Netflix's Black Doves took home the runner-up gong.
Are there better ways to save on subscription costs?
Despite the average monthly spending increasing by an extra AU$7, the upticks add up in the long run. According to our extensive research on streaming services, the easiest way to save on long-term subscription costs is to switch to an annual plan if your chosen service offers them.
Right now, only a select few services offer annual subscriptions, all discounted when compared to its monthly offering. These streamers include Binge, BritBox, Disney Plus, Paramount Plus and Prime Video. We've rounded up three top-rated annual streaming offerings below, each with varying price points. If you're keen to check out how much streaming services could cost you this year, you can view our dedicated guide here.
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