However, with the growing number of options available, managing multiple subscriptions can become overwhelming and expensive. Each platform typically requires a separate subscription fee, and these costs can add up quickly, putting a strain on your budget. Furthermore, the abundance of content across different services means it’s easy to subscribe to more than you actually need or use, leading to unnecessary spending.
Fortunately, there are several strategies you can adopt Save money on OTT subscriptions without compromising on your viewing experience. By being strategic about your subscription choices and making the most of the available offers and features, you can enjoy your favourite shows and movies while keeping costs under control.
Tips to cut down your OTT subscription costs
Evaluate your subscription
The first step towards saving OTT Subscriptions Evaluate your existing subscriptions. Make a list of all the streaming services you subscribe to and consider the following:
- How often do you use each service?
- Is there any uniformity in the content offered?
- Which services provide the most value for your viewing preferences?
By assessing your usage and preferences, you can identify subscriptions to cancel or downgrade. If you rarely watch content on a particular platform, consider canceling it and redirecting those funds to a service you use more often.
Take advantage of a free trial
Many OTT platforms offer free trials for new users ranging from a week to a month. Use these free trials to explore different services and their content library without committing financially. Set a reminder to cancel the trial before it ends to avoid fees. You can also use free trials from different platforms to enjoy their content without paying for multiple subscriptions at once.
Bundle Subscriptions
Many streaming services offer bundled packages that combine multiple subscriptions at a lower price. For example, Disney+ offers a bundle that includes Hulu and ESPN+ for less than the cost of subscribing to each service separately. Find bundles that match your viewing habits and preferences to save money.
Share subscriptions with family and friends
Many OTT platforms allow simultaneous streaming on multiple profiles or multiple devices. Take advantage of this feature by sharing a subscription with family members or friends. Split the cost of the subscription among multiple users to reduce individual expenses. Check the terms of service of each platform to make sure you are not violating any rules.
Look for discounts and promotions
Keep an eye out for discounts and promotions on OTT platforms, as many services offer special deals during holidays, anniversaries, or other important events. Additionally, some platforms offer discounts for students, military personnel, and senior citizens. Sign up for newsletters or follow the platforms on social media to stay informed about upcoming promotions.
Select ad-supported plans
Many streaming services offer ad-supported plans at a lower cost than their ad-free versions. Although watching ads may be a bit inconvenient, it can lead to significant savings. Evaluate whether ad-supported plans are a viable option for you, especially if there is a huge difference in cost.
Downgrade to a lower level
If you don’t need all the features offered by your current subscription tier, consider downgrading to a lower tier. If you’re currently subscribed to a premium plan that includes 4K streaming but primarily watch content on a standard HD screen, changing to a standard plan may be a cost-saving option. Evaluate your viewing habits and requirements to determine if downgrading to a lower-tier plan will effectively meet your needs.
Cancel unused subscriptions
Over time, it is common to accumulate multiple subscriptions, some of which may remain unused. Regularly evaluate your subscriptions and cancel those that are no longer in use. This simple act can redirect funds to more worthwhile purposes. Be vigilant about monitoring cancellation deadlines to prevent unnecessary charges for services you no longer need.
Take advantage of annual plans
Choosing an annual plan instead of a monthly subscription can lead to significant savings. Many OTT platforms offer discounts on annual subscriptions, which is equivalent to several months of free service compared to monthly rates. If you expect to use a service long-term, choosing an annual plan is a prudent decision, ensuring cost-effectiveness in the long run.
Keep an eye on price increases
Streaming services occasionally raise their subscription prices. Be aware of upcoming price increases and evaluate whether the service still offers good value at the new rate. If the price increase makes the subscription less affordable, consider switching to another service or taking advantage of available promotions.
Rotate OTT subscriptions based on content releases
The content offering on OTT platforms is dynamic, regularly getting updated with new movies and shows while others are removed. To optimize your savings, consider rotating your subscription according to the release schedule of your favorite content. Subscribe to a service for a period, enjoy the content you want, then cancel and move to another platform. This approach ensures that you only pay for a subscription when you are actively watching content that matches your current interests.
Use cashback and rewards programs
Some credit cards and cashback apps offer rewards for streaming service transactions, allowing you to earn cashback or points that can be used toward future subscriptions. Additionally, many OTT platforms have referral programs that offer incentives such as free months of service for referring new subscribers. These programs can help you maximize savings and get more value from your streaming subscription.
Use public libraries
Many public libraries collaborate with streaming platforms like Kanopy and Hoopla to provide free access to their services. Contact your local library to inquire about available OTT services, allowing you to enjoy a wide selection of movies and shows at no additional cost.
Track your viewing habits
Finally, paying attention to your viewing habits can help you make well-informed choices about your subscriptions. Keep track of the time you spend on each platform and the types of content you enjoy most. This data can help you choose subscriptions that are not only affordable but also meet your entertainment preferences effectively.
