New research shows that the average Irish adult currently spends €28.26 a month on video streaming subscriptions, up from €22.57 a month in 2021.
Gen X - adults between the ages of 43 and 58 - are the highest spenders by generation, spending €33.36 a month on video streaming services, the research from broadband and telecoms provider Pure Telecom reveals.
Pure Telecom said its first Connected Lives survey found that consumers in Ireland spent €1.3 billion a year on streaming services in 2022, up from €967m in 2021.
The research found that on average, adults in Ireland are paying for 2.4 video streaming services each, but it also reveals that consumers are feeling the pinch from having multiple video streaming accounts.
Many are now choosing to reduce the number of video streaming services they pay for to save money.
38% of those who pay for video streaming services said they have cancelled at least one subscription in the last 12 months to cut costs. Another 17% said they have cancelled to get better content elsewhere, while 16% said they switched off as they had too many subscriptions already.
The survey also found that 26% of video streaming subscribers in Ireland are sharing their subscription passwords with someone outside of their household, indicating that the streaming spend could increase as providers introduce additional charges for password sharing.
Paul Connell, CEO of Pure Telecom, said that Irish people have well and truly embraced video streaming and the market is continuing to grow.
He said the trend of password-sharing that our research uncovered could see this rise considerably again.
"People know that they can't get all of the top shows from just one provider and the majority are prepared (even if it is reluctantly) to pay out of fear of missing out," he noted.
"With an abundance of choice at their fingertips, cost-conscious viewers are more than happy to hop between providers if they think there is better content elsewhere, while others are prepared to cut back on their monthly subscriptions to save money," he added.
