Consumers Binge On Streaming Services Despite Higher Prices
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Amid inflationary pressures throughout the U.S. economy, consumers haven’t skimped on streaming services, according to transaction data gathered by Bank of America for a report.
“Spending activity shows a sharp increase in spending on streaming relative to discretionary spending, with spending in January on streaming services up more than 70% since 2021,” according to the bank, which collects data from debit and credit cards, automated clearing houses and online bill payments.
“Spending activity shows a sharp increase in spending on streaming relative to discretionary spending, with spending in January on streaming services up more than 70% since 2021,” according to the bank, which collects data from debit and credit cards, automated clearing houses and online bill payments.
