Waterstone, a consulting group, works with subscription-based companies in Silicon Valley. This survey actually helps show why Spotify, Netflix and Blue Apron and other subscription services have thrived in today’s environment.
Plus, people now perceive WiFi and smartphone expenditures as necessities, on par with electricity, heat and water.
“It’s kind of a weird relationship we have with those services,” Kerns said. “People have a hard time acknowledging how hooked they are on their WiFi and smartphones.”
The company asked people upfront how much they think they spend on subscription services. Then they broke down those expenditures one by one to get the usually much higher final total. “People forget about services like Lifelock identity theft protection or GoDaddy web hosting,” she said. “The forget they pay for a fitness app.”