BACK

Michael Blann / GettyImages

Breaking News

Poll: 31% added a streaming service during the height of the pandemic

New CreditCards.com survey shows 52% of streamers shared an account with someone outside their homes in March, April or May

Summary

Streaming services are alive and well – 31% of U.S. adults added a subscription in March, April or May. And many people are sharing their accounts – 52% of streamers shared one with someone outside their households.

The content on this page is accurate as of the posting date; however, some of our partner offers may have expired. Please review our list of best credit cards, or use our CardMatch™ tool to find cards matched to your needs.

Streaming service subscriptions rose significantly in March, April and May – the peak of the coronavirus quarantine – according to a CreditCards.com poll.

The new survey reveals 31% of U.S. adults added a subscription during these three months, including 43% of millennials, 33% of Gen-Xers and 18% of baby boomers.

The COVID-19 pandemic also saw increased usage of subscriptions from 54% of streamers compared with January and February.

But more than a quarter of subscribers (28%) pay little or no attention to how they pay for these services, which, according to CreditCards.com industry analyst Ted Rossman is a missed rewards opportunity, especially as more credit cards add bonus streaming rewards categories.

“Setting and forgetting your streaming payments can also lead to overspending,” he added.

See related: How to stop overspending during the coronavirus pandemic

Credit card debt poll: key findings

Check out some other significant results from our streaming services poll:

  • Sharing is caring: Of the 81% of U.S. adults who use streaming services, 52% shared an account with someone outside of their households in March, April or May. Sixty-three percent of millennial streamers said they shared at least one account, compared with 51% of Gen-Xers and 36% of baby boomers.
  • Sharing also means savings: Those who borrow streaming subscriptions said it saves them an average of $513 annually, according to a March survey from Bankrate.
  • Netflix and share: Of the streaming services, Netflix was shared the most during the coronavirus quarantine in March, April and May – 35% of those who use streaming services shared Netflix with someone who doesn’t live with them.
  • Stepping up to streaming: Almost a quarter of streamers (23%) said they used their subscriptions a lot more in March, April and May than in January and February. And 31% of respondents said their usage was “somewhat” higher, while 41% estimated their usage to be about the same.

The survey of 2,520 U.S. adults (including 2,042 who use streaming services) was conducted online between May 22-26, 2020. See survey methodology.

Card issuers are making streaming attractive with bonuses

Many card issuers are offering bonus rewards for streaming services now, so before you buy, make sure you use the right credit card.

For example, The Platinum Card® from American Express added a $20 per month streaming credit from May through December to compensate for cardholders using fewer travel benefits and the Chase Sapphire cards are offering limited-time bonus points on streaming service purchases.

Holly Johnson, “frugal expert” and founder of the website Club Thrifty, said some of her favorite streaming bonuses come from the Wells Fargo Propel American Express® card* and the Blue Cash Preferred® Card from American Express.

The Wells Fargo Propel Card offers 3x points on select streaming services and the Blue Cash Preferred Card offers 6% back on select U.S. streaming services.

But Johnson cautions consumers about focusing their whole rewards game on points earned for these subscriptions.

For example, a Netflix subscription costs about $10 per month. If you’re paying $120 per year for the subscription and earning 6% back, you’d net only $7.20 in rewards for the year in that category.

“You’ll only earn so many points on those relatively small purchases, so I would suggest worrying about how much you’re earning on your big purchases for the month, such as groceries, gas, day care, etc.,” Johnson said.

See related: How I’m spending differently during the pandemic

Unstructured time calls for heavy streaming

The state-to-state COVID-19-inspired lockdown mandates began in mid-March, with most Americans spending the vast majority of their time at home.

“Unstructured time at home … left many people dazed with the suddenness of the mandated order and the radical shift from office to home with significant others – and most likely children mandated not to go to school,” said Dr. Maggie Baker, a psychologist, financial therapist and author of “Crazy About Money: How Emotions Confuse Our Money Choices and What To Do About it.”

All of these drastic changes, she explained, left many in a “shock and fog” state, with their old routines gone in a flash.

Within this context of unexpected fast-paced change, uncertainty and lack of control, Baker said it’s no wonder that 31% of Americans signed up for additional streaming services in March, April or May.

“At home with blocks of unstructured time, what better to do than get lost in as many intriguing streaming movies, episode shows and documentaries you can find?,” Baker added.

Baker also pointed out that in many homes, children probably want to watch their own shows, so Disney+ becomes a must.

“If you only had one service before March – say, Netflix – you were probably forecasting that wouldn’t be enough content to last for the lockdown, which motivated people to sign up for more,” Baker noted.

See related: Poll – 23% of consumers added to their card debt during the pandemic

Boomers aren’t as grounded in the digital world as other groups

Baker said that the most likely reason only 18% of boomers (versus 43% of millennials and 33% of Gen-Xers) added streaming services during March, April or May is because boomers didn’t grow up in the digital age and aren’t as reliant on streaming for entertainment.

“My guess is that they read more, maybe from a Kindle or from an actual book,” Baker added.

Boomers are less likely than younger adults to share accounts with others, which Baker also attributes to them being less grounded in the digital world than millennials and Gen-Xers.

Streaming media provides comfort

COVID-19 is relentless, but Americans are fighting back by staying at home, practicing social distancing and wearing masks.

With all the fear and uncertainty about health and jobs, streaming media gives us distraction, comfort and a rest from the vigilance needed to fight against the invisible and lethal virus.

And last, but certainly not least, you can save money on your streaming subscriptions by paying for them with a card that rewards you.

Survey methodology

CreditCards.com commissioned YouGov Plc to conduct the survey. All figures, unless otherwise stated, are from YouGov Plc. Total sample size was 2,520 adults, including 2,042 who use streaming services. The survey was conducted online from May 22-26, 2020.

*All information about the Wells Fargo Propel American Express has been collected independently by CreditCards.com and has not been reviewed by the issuer. The Wells Fargo Propel American Express are no longer available through CreditCards.com.

Editorial Disclaimer

The editorial content on this page is based solely on the objective assessment of our writers and is not driven by advertising dollars. It has not been provided or commissioned by the credit card issuers. However, we may receive compensation when you click on links to products from our partners.

What’s up next?

In Breaking News

Stuck with airline and cruise credits? These tips can help you put them to use

The COVID-19 pandemic has wreaked havoc on the travel and hospitality industry. One result is an abundance of eager travelers with vouchers they can use for travel later this year or even next year. If you have travel credits, here are some tips on how best to use them.

See more stories
Credit Card Rate Report Updated: September 30th, 2020
Business
13.91%
Airline
15.50%
Cash Back
15.94%
Reward
15.78%
Student
16.12%

Questions or comments?

Contact us

Editorial corrections policies

Learn more

Join the Discussion

We encourage an active and insightful conversation among our users. Please help us keep our community civil and respectful. For your safety, do not disclose confidential or personal information such as bank account numbers or social security numbers. Anything you post may be disclosed, published, transmitted or reused.

The editorial content on CreditCards.com is not sponsored by any bank or credit card issuer. The journalists in the editorial department are separate from the company’s business operations. The comments posted below are not provided, reviewed or approved by any company mentioned in our editorial content. Additionally, any companies mentioned in the content do not assume responsibility to ensure that all posts and/or questions are answered.