January 2022
Subscription costs have dramatically increased during the pandemic.
We lose track of our subscriptions because of their sheer number and invisibility, which is why so many companies promote them.
For news we subscribe to newspapers and magazines. Entertainment and music needs are serviced by Spotify, Netflix, Amazon Prime, Crave, XM Radio and Hulu. Sports enthusiasts rely on TSN, DAZN, SportsNet, DirecTV, NHL, NBA and NFL. Those who are single may use eHarmony, Match and Tinder to meet others. Gaming services include Xbox Live and PlayStation Now. The average person likely pays more than $350 per month for all of this, up from about $300 in 2018, according to the Wall Street Journal.
Then there are fitness and wellness services such as Peloton, home security services, meal services, and book services. Anyone who manages a business likely requires a web hosting service. Cloud storage services provide anywhere access to personal data, storage and data back up.
Many streaming services may no longer be needed. Yet they go unnoticed when not utilized. It is easier to allow for autorenewal of services rather than going to the time and effort of cancelling those no longer necessary. This is the cost of convenience.
Growth in subscription services is the result of more people spending more time at home during the pandemic. These are discretionary monthly expenditures on top of payments for electricity, telephone, internet, condo fees and mortgage, the costs of which are also on the rise.
We truly do live in a subscription world!
