Salt Lake City, Dec. 04, 2024 (GLOBE NEWSWIRE) -- How much are Americans spending to access technology and media? Reviews.org released its annual “The State of Consumer Media Spending Report” analyzing the average costs and potential savings of home internet, cable, mobile, and streaming spending throughout the year.
Americans spend an average of $196,826 over their lifetime on internet, mobile, cable, and streaming TV services—essential utilities for work, school, news, and entertainment. The average monthly costs of each of these home services are as follows:
- Internet – $69/month (down from $81 in 2023)
- Mobile Plans – $61/month (down from $66 in 2023)
- Streaming – $42/month (down from $55 in 2023)
- Cable TV – $88/month (up from $80 in 2023)
Internet, mobile, TV, and streaming costs account for 5% of the average U.S. worker’s monthly earnings. While some costs, like home internet and streaming, have decreased compared to last year, traditional cable TV costs rose by 8% since 2023. The average American now spends 5 hours daily on screens in 2024, making home internet, mobile, and TV essential home services for staying connected.
- Americans spend $272.90 monthly on home internet, mobile phone plans, cable TV, and streaming subscriptions, totaling $3,274.80 yearly.
- The average American spends over 5 hours daily on mobile devices, with a potential total screen time of 16 hours across all devices.
- Average streaming costs dropped to $42.38 per month in 2024 ($13 less than last year) likely due to Americans tightening streaming budgets and opting for cheaper ad-supported tiers or fewer subscriptions.
- The average American now only pays for 2 streaming subscriptions.
- Average cable TV costs rose to $89 per month in 2024, up $8 since last year
- The average cost of home internet is $69.43 (down from $81 in 2023), with fiber internet being the most expensive at $81.27 and cable internet the most affordable at $47.89.
“The tough economy means consumers are tightening their belts, so it makes sense that Americans are spending less on home internet and streaming services this year. Shopping around and comparing providers in your area can go a long way in helping you save,” says Peter Holslin, Managing Editor of Reviews.org. “You don’t need to spring for the fastest internet speeds or even an ad-free streaming subscription to enjoy your digital life. At the end of the day most people can get a great online experience for a modest price.”
Read the full report here: https://www.reviews.org/internet-service/cost-of-internet-streaming-and-cell-phone-bills/
METHODOLOGY: To calculate the lifetime cost of being connected, we used the most recent pricing data available from the leading internet, mobile, streaming, and TV brands to determine the average monthly cost of internet, streaming, and cell phone bills.
To determine the average monthly cost of streaming, we surveyed 1,000 Americans to determine the median amount the average person spends on streaming services per month.
We then scaled the average monthly cost of each of these services to determine how much, on average, Americans will spend on these services in a year and throughout their lifetime.
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