CNBC: Even as Americans begin to be frugal in the face of rising prices and recession fears, very few want to give up their streaming subscriptions to TV, movie and music services such as Amazon Prime, Netflix and Spotify.
About two-thirds of consumers said they would have to cut back on spending due to inflation. But only about a quarter plan to cancel those subscriptions in the coming months, according to a recent report by the National Research Group. Most said they were more likely to cut back on eating out and clothing.
Consumers are less likely to cancel their subscriptions to Amazon Prime, and streaming services in general, according to the survey, even for groceries and gas.
Just over half, or 51%, also reported that subscriptions are now a "significant" part of their monthly spending. On average, American consumers estimate they spend $135 a month, or 17,8% of their monthly budget, on subscriptions, the National Research Group found (National Research Group).
More than 2.500 adults participated in the survey (poll) in August.
