This generation is in a subscription scam spiral.
At first, it appeared to be the best thing since sliced bread: we could watch as many movies as we wanted, as many times as we wanted, without ever worrying about late fees. We could order something we needed and have it delivered that same day, no matter if we bought one item or 50 – all the same as long as you pay the fee for shipping.
Now this system seems to no longer be working that well. It’s like the monster under your bed: you thought if you ignored it long enough (or Netflix and chilled enough in this case) it would lose interest and find another bed to crawl under.
But this new way of living is here to stay, and as our generation becomes more reliant on these services and technologies, the monster of costly subscriptions is kicking us out of our own bed and the future isn’t looking too pretty.
Cue the cringe that comes after self-reflection. The following are the subscriptions I pay for divided up by monthly and annually.
Yikes. This doesn’t even include living and school expenses. The total amount is estimated at $220 per month. Are students really getting a fair deal in this new age of subscriptions? The answer – it depends.
Many of these services are integral to how we function. Instead of the limitation of the local bookstore, students can gain access to their class materials on Amazon and have it delivered for the flat rate paid monthly. This sort of competition is great for students; there is no longer a monopoly by certain businesses being the only option for students.
This can also be applied to other services like gaming or music. Take Apple Music and Spotify – why pay for physical CDs or digital downloads when I can subscribe at a monthly rate for as much music as I want?
On the other hand, the number of streaming services students can choose from is overwhelming. When Netflix exploded onto the scene, this entertainment model was brand new and there were a few streaming services to choose from. Prices were low, accessibility was in your pocket and commercials were as extinct as the dinosaurs.
Now, almost every major Hollywood studio has a streaming platform of its own or a deal to have its library streamed somewhere. Instead of getting your sports and news through cable, many streaming services have deals, but only with certain networks, leagues or teams. This causes the games to be spread out over an absurd amount of platforms.
For example, Amazon has Thursday Night Football. YouTube TV has several other channels that play football games, yet they also offer Sunday Night ticket, which requires the YouTube TV baseline subscription along with the NFL Sunday Ticket, adding up to $379 a year. Then there is ESPN+ and Peacock that have their own streaming services and games. If your favorite team has a game on Peacock ($1.99/month for the first year as a student), then you need a separate account just for that game.
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If you are confused, don’t worry, I am too. And so is my wallet.
Some of the subscriptions are obviously expensive, but others are more sneaky. By purchasing lots of cheaper subscriptions over time, those small costs accumulate and become expensive over the long run. For me, it’s usually the small subscriptions I forget about for a while, before realizing I’m paying for something I’m not using.
So what can we do? As students and consumers, we have the power to decide which products get our time and money. But if all these streaming companies are coming up with similar products while also raising the prices, is there anything we can do about it? Do subscriptions give us access to the newest entertainment and best products? Or are we stuck with the subscription monster that seems to be getting bigger as companies stick us in a loop of rising prices and limited alternatives?
Perhaps the prices will change or a new service will come about that replaces the subscription plan. Only time will tell.
Lilly Appelfeller is an MBA student in the Farmer School of Business after graduating from Northern Kentucky University with her B.S. in business administration. She is a writer for the opinion section of The Miami Student. In addition, she also writes her own screenplays and is a member of the Alpha Phi Omega Chapter at Miami University.
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