Brits cut back on subscriptions as £1.6bn spent per month
Brits cut back on subscription services as £1.6bn spent every month
63% of Brits subscribe to a monthly subscription based service
The average person spends £39 per month and subscribes to 2.4 services
Across Britain, the estimated total monthly spend on subscriptions services is £1.6bn.
Media streaming, audio and food subscriptions are the nation’s most popular
1 in 10 don’t use their subscriptions at all
27% have decided to cut back on subscriptions this year
The latest research by finance specialists, RIFT, has revealed that British consumers spend £1.6bn a month on subscription services, but one in 10 admit to not using these services at all, while over a quarter have chosen to cut back so far this year in a bid to reduce their household spending.
RIFT surveyed over 12,000 Brits across each region of the nation to ascertain just how many subscription services the average household has, how much it’s costing them and how often they are actually used.
From streaming our favourite TV shows and films, gaming, food and drink, health and beauty and even pet supplies, today, there’s a subscription service for pretty much anything you could wish for.
RIFT’s analysis of 20 of the most popular subscription services shows that they cost an average of £29 per month, starting as low as £4.99 per month for the likes of Netflix and climbing to a lofty £136 per month for food subscription services like Hello Fresh.
British Look
The research from RIFT also shows that 63% of us subscribe to some form of monthly product – that’s an estimated 41.3m of us. With the average person having 2.4 active subscriptions and paying £39 per month for the pleasure, that’s a total monthly subscription spend of £1.6bn across Britain.
Streaming TV and films, music, podcasts or audio books and food and drink subscriptions are the most popular and while the majority of us utilise these subscriptions all of the time, one in 10 stated they don’t use them at all.
No surprise then that over a quarter (27%) of us have decided to scale back on our subscription costs this year, with the primary reason being that the cost is too high for the product offered, as well as the fact that we simply can’t afford them in the current climate.
Bradley Post, MD of RIFT, commented:
“Subscription services have boomed in popularity in recent years and not just because they offer convenience to those leading busy lifestyles, but also due to the fact that the range of products available has increased dramatically.
From media consumption, food and drink, beauty, pet supplies and even health and fitness, there’s a subscription service for every aspect of life.
In some cases they can provide a great option compared to otherwise expensive alternatives but they can also be very costly and, ultimately, unnecessary, especially for the one in 10 of us who fail to even make use of them.
With households continuing to struggle with the high cost of living, it’s certainly worth considering a subscription spring clean as it could help reduce your outgoings by a nice chunk each month.”
South East
Across the South East, the average person spends £40 on 2.5 subscription services per month. The region is also home to the highest proportion of the population utilising subscription services (66%) and, as a result, the highest total monthly spend at £246.1m.
Streaming TV and films, music, podcasts or audio books and food and drink subscriptions are the most popular and while the majority of people utilise these subscriptions all of the time, 8% stated they don’t use them at all.
What’s more, over a quarter (27%) have already decided to scale back on their subscription costs this year, with the primary reason being they simply can’t afford them.
London
Across London, the average person spends £41 on 2.6 subscription services per month, the highest number of subscriptions of all regions. The region is also home to the second highest proportion of the population utilising subscription services (65%) and, as a result, the second highest total monthly spend at £246.1m.
Streaming TV and films, music, podcasts or audio books and food and drink subscriptions are the most popular and while the majority of Londoners utilise these subscriptions all of the time, 8% stated they don’t use them at all.
What’s more, over a quarter (27%) have already decided to scale back on their subscription costs this year, with the primary reason being they simply can’t afford them.
North West
Across the North West, the average person spends £37 on 2.4 subscription services per month. With 63% of the population utilising subscription services, the region is home to the third highest total monthly spend at £173.3m.
Streaming TV and films, music, podcasts or audio books and food and drink subscriptions are the most popular and while the majority of people utilise these subscriptions all of the time, more than one in 10 (11%) stated they don’t use them at all.
What’s more, over a quarter (27%) have already decided to scale back on their subscription costs this year, with the primary reason being that the cost is too high for the product offered and that they simply can’t afford them in the current landscape.
West Midlands
Across the West Midlands, the average person spends £41 on 2.3 subscription services per month. With 63% of the population utilising subscription services, the region is home to the fourth highest total monthly spend at £153.2m.
Streaming TV and films, music, podcasts or audio books and food and drink subscriptions are the most popular and while the majority of people utilise these subscriptions all of the time, more than one in 10 (11%) stated they don’t use them at all.
What’s more, over a quarter (26%) have already decided to scale back on their subscription costs this year, with the primary reason being that the cost is too high for the product offered and that they simply can’t afford them in the current landscape.
East of England
Across the East of England, the average person spends £39 on 2.2 subscription services per month. While this is the lowest average number of subscriptions of all regions, 61% of the population utilise subscription services and so the region is home to the fifth highest total monthly spend at £149.4m.
Streaming TV and films, music, podcasts or audio books and food and drink subscriptions are the most popular and while the majority of people utilise these subscriptions all of the time, more than one in 10 (13%) stated they don’t use them at all.
What’s more, over a fifth (21%) have already decided to scale back on their subscription costs this year, with the primary reason being that the cost is too high for the product offered and that they simply can’t afford them in the current landscape.
Scotland
Across Scotland, the average person spends £39 on 2.5 subscription services per month. With 64% of the population utilising subscription services – one of the highest levels in Britain – the region is home to the sixth highest total monthly spend at £138.7m.
Streaming TV and films, music, podcasts or audio books and food and drink subscriptions are the most popular and while the majority of people utilise these subscriptions all of the time, almost one in 10 (9%) stated they don’t use them at all.
What’s more, over a quarter (28%) have already decided to scale back on their subscription costs this year, with the primary reason being that the cost is too high for the product offered and that they simply can’t afford them in the current landscape.
South West
Across the South West, the average person spends £37 on 2.4 subscription services per month. With 63% of the population utilising subscription services, the region is home to the seventh highest total monthly spend at £134m.
Streaming TV and films, music, podcasts or audio books and food and drink subscriptions are the most popular and while the majority of people utilise these subscriptions all of the time, one in 10 (10%) stated they don’t use them at all.
What’s more, over a quarter (28%) have already decided to scale back on their subscription costs this year, with the primary reason being that the cost is too high for the product offered and that they simply can’t afford them in the current landscape.
Yorkshire and the Humber
Across Yorkshire and the Humber, the average person spends £37 on 2.3 subscription services per month. Just 60% of the population utilise subscription services, one of the lowest levels in Britain, but despite this there is still some £122.8m spent every month on subscription services.
Streaming TV and films, music, podcasts or audio books and food and drink subscriptions are the most popular and while the majority of people utilise these subscriptions all of the time, more than one in 10 (13%) stated they don’t use them at all.
What’s more, over a quarter (26%) have already decided to scale back on their subscription costs this year, with the primary reason being that the cost is too high for the product offered and that they simply can’t afford them in the current landscape.
East Midlands
Across the East Midlands, the average person spends £37 on 2.3 subscription services per month. With 62% of the population utilising subscription services, this equates to a total monthly subscription spend of £112.2m.
Streaming TV and films, music, podcasts or audio books and food and drink subscriptions are the most popular and while the majority of people utilise these subscriptions all of the time, more than one in 10 (12%) stated they don’t use them at all.
What’s more, well over a quarter (29%) have already decided to scale back on their subscription costs this year, with the primary reason being that the cost is too high for the product offered and that they simply can’t afford them in the current landscape.
Wales
Across Wales the average person spends £41 on 2.4 subscription services per month. With 64% of the population utilising subscription services, this equates to a total monthly subscription spend of £81.2m
Streaming TV and films, music, podcasts or audio books and food and drink subscriptions are the most popular and while the majority of people utilise these subscriptions all of the time, almost one in 10 (9%) stated they don’t use them at all.
What’s more, over a quarter (28%) have already decided to scale back on their subscription costs this year, with the primary reason being that the cost is too high for the product offered and that they simply can’t afford them in the current landscape.
North East
Across the North East, the average person spends £37 on 2.3 subscription services per month. 60% of the population utilise subscription and while the region is home to the lowest total spend of all regions, it still equates to £81.2m spent on a monthly basis.
Streaming TV and films, music, podcasts or audio books and food and drink subscriptions are the most popular and while the majority of people utilise these subscriptions all of the time, more than one in 10 (13%) stated they don’t use them at all.
What’s more, over a quarter (26%) have already decided to scale back on their subscription costs this year, with the primary reason being that the cost is too high for the product offered and that they simply can’t afford them in the current landscape.
