Americans spend nearly $200,000 on their homes over their lifetime

Salt Lake City, Dec. 4, 2024 (GLOBE NEWSWIRE) — How much are Americans spending on access to technology and media? Reviews.org released its annual “The State of Consumer Media Spending Report”Analysis of the average cost and potential savings on home internet, cable, wireless, and streaming spending over the course of the year.

Americans spend an average of $196,826 over their lifetime on internet, mobile, cable and streaming TV services– essential tools for work, school, news and entertainment. The average monthly cost for each of these home services is:

• Internet – $69/month (from $81 in 2023)
• Cellular plans – $61/month (from $66 in 2023)
• Streaming – $42/month (up from $55 in 2023)
• Cable TV – $88/month (up from $80 in 2023)

Internet, cell phone, television, and streaming costs account for 5% of the average monthly income of a U.S. worker. While some costs like home internet and streaming are down year-over-year, the cost of traditional cable TV is up 8% since 2023. The average American will now spend 5 hours a day in front of screens in 2024, making home internet, mobile devices and television essential home services for staying connected.

• Americans spend $272.90 monthly for home internet, cell phone plans, cable TV and streaming subscriptions, in total $3,274.80 annually.
• The average American spends over 5 hours a day on mobile deviceswith a potential total screen time of 16 hours on all devices.
• Average streaming costs dropped to $42.38 per month in 2024 ($13 less than last year) likely because Americans are cutting their streaming budgets and opting for cheaper ad-supported tiers or fewer subscriptions.
• The average American now Only pay for 2 streaming subscriptions.
• Average Cable TV costs rose $89 per month in 2024, $8 higher since last year
• The average cost of home internet is $69.43 (up from $81 in 2023), with fiber internet the most expensive at $81.27 and cable internet at $47.89 is cheapest.

“The tough economy means consumers are tightening their belts, so it makes sense that Americans will spend less on home internet and streaming services this year.” If you shop around and compare providers in your area, you can “You save a lot,” says Peter Holslin, editor-in-chief of Reviews.org. “You don’t need to have access to 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 a connection, we used the latest available pricing data from the leading internet, mobile, streaming and TV brands to determine the average monthly cost of internet, streaming and mobile phone bills.

To determine the average monthly cost of streaming, we surveyed 1,000 Americans to determine the average amount an average person spends on streaming services per month.
We then scaled the average monthly cost of each of these services to determine how much Americans, on average, will spend on these services in a year and throughout their lifetime.

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• How much will it cost to stay connected for life?