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How to Start Saving Money on Streaming Services Now

Tired of spending all that money each month on Netflix, HBO Max and other services? Try this.

Discovery Plus, Hulu, Paramount Plus, Peacock and Netflix streaming service apps on phones
Hulu, Netflix and Disney Plus may be must-haves, but you can lower costs each month with one trick. 
Sarah Tew/CNET

Between the impending rollout of Netflix's account-sharing fees and a wave of streaming service price hikes, it may feel like a luxury to stream. If you add up the costs of each platform, you may discover you're spending $500 or more per year. But you don't have to burden your wallet.

Let's say you're subscribed to multiple streaming platforms, you watch one or two of them until your favorite series ends its season, then look for the next thing. But is it worth keeping all those accounts active if you're not watching anything on them? I don't think so. 

Have a look at this budget-conscious strategy to help you save on your streaming TV expenses.

Rotate your streaming subscriptions 

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For cord-cutters, shifting from cable to streaming can be a wise financial move. Because you're able to sign up for monthly plans, it's easy to jump into a streaming service and jump out when prices increase or content gets dull. But according to Deloitte's 2022 Media Trends report, the main reasons people cancel their streaming subscriptions are because of costs and lack of fresh content. Media companies call this behavior "churn." We're calling this the rotation method, and you should try it.

The incentive? You save your coin and avoid content droughts. Let's say a popular show like Ted Lasso or The Masked Singer is set to premiere on a streaming service. Find the total episode count and wait until they're all available at once on a platform. You cancel Apple TV Plus, Hulu, Disney Plus or other service and then, once all the episodes are available, resubscribe to catch up. Alternatively, you can start streaming a show midseason to cut costs. My monthly guide on which streaming services to cancel can help you keep up.

The downside? You won't have immediate access to every show you want to watch and will have to wait until the full season airs. And since many streaming services release new episodes weekly, you might not be caught up at the same time as your friends. If you're someone who prefers to watch episodes immediately when they drop, you may decide it's worth it to have multiple subscriptions at a time. If you have patience, however, you can save some money. 

The strategy can also work if you have a live TV streaming service to watch a particular sport or major event like March Madness. Once the season wraps, cancel the service or move to a cheaper platform with fewer channels, like Sling TV

Need help figuring out the best way to rotate? Follow the tips below to learn how to churn streaming platforms until your wallet feels content. 

Ted lasso standing in the locker room

Why pay for three months of Apple TV Plus to watch Ted Lasso's final season when you can watch all 12 episodes in May for the price of one month?

Apple TV Plus

Tip No. 1: Cancel your subscription before getting charged 

Set calendar reminders for your billing cycle and upcoming TV show or movie release dates. Give yourself enough warning to begin or end a subscription. Apps such as JustWatch, TV Time and Hobi help you track when and where TV shows and movies appear on a streaming service. And JustWatch added a tracker specifically for sports. If you have a smart home device from Google or Amazon, you can set reminders for specific dates and allow a voice assistant like Alexa to notify you of an upcoming bill or streaming release date.

Tip No. 2: Sign up for streaming service deals

Look for discounts on streaming services. For example, Starz is now $3 per month for three months, a drop from its regular $9-a-month rate. You can also take advantage of the Disney Bundle, which provides access to Disney Plus, Hulu and ESPN Plus in a single package for a reduced price. And eligible Hulu subscribers can add on Disney Plus for $2. Lastly, be sure to check with your mobile carrier to see which ones offer free streaming subscriptions.

Tip No. 3: Pick one or two default streaming services

Subscribe to one or two must-have services for the year, and select only one or two more options to fit your monthly budget. Rotate the bonus service(s) according to what you want to watch, ensuring you don't miss your favorite shows while sticking to your monthly spending cap.

Tip No. 4: Use monthly billing only

Avoid annual subscriptions and pay attention to your auto-renewal payment dates. Your billing cycle can help determine when it's the best time to quit a service, even if you've only signed up for a free trial. The only advantage to signing up for an annual plan is when the price is drastically cut down.

Tip No. 5: Don't cancel your subscription, pause it

Hulu allows you to pause your subscription for up to 12 weeks, and Sling has a similar option with stipulations. Check with your streaming provider to see if you can take a temporary break without canceling.

Give it a shot, and if you don't like it you can always resubscribe. For more excellent tips on streaming TV, check out this guide to Netflix's hidden tricks and our tips on the best VPNs.