Netflix, Spotify or dating apps, which one is getting cancelled first? As many struggle with the cost of living, a survey of 1,005 American consumers has revealed which digital subscriptions are most popular, and which may be the first to get cancelled.
In a survey commissioned by Forbes Advisor, it was revealed that 90% of consumers subscribe to television streaming services, followed by 72% using delivery apps, and 60% listening to paid music providers.
Unfortunately for the online dating industry, the least popular subscription categories are women’s apps, men’s apps, wellness apps and dating apps, with just 3% of respondents using them.
But does this mean the least popular apps will be the first to be cancelled? Opinions are split.
Forbes asked consumers what apps they’re most likely cut heading into 2023, with respondents identifying:
- Dollar Shave Club
- The New York Times
On the other hand, what’s most popular might not translate into guaranteed safety when it’s time to cut costs.
Yahya Mokhtarzada, Co-founder and Chief Revenue Officer of Rocket Money, a finance app that helps people manage subscriptions, says streaming subscriptions are actually the first to go as consumers reduce their spending.
“Streaming subscriptions are certainly valuable to Americans but, interestingly, these services are the first on the chopping block when users are cutting down,” Mokhtarzada says.
Interestingly, changes in price could affect how consumers prioritise their apps. Dating, meal kit and wellness apps have some room to increase their prices, however consumers are unwilling to spend more on food delivery, cloud storage or live TV platforms.