New figures from PwC, the professional services firm, show Australian household spending on entertainment reaching unprecedented highs of $4,500 each year, spurred by streaming, gaming, and the sheer cost of internet.
Why it matters
It sounds like a lot because it is a lot. Partly, that’s because of the rise of subscription models that draw a monthly fee, thereby masking the total annual cost, as one academic who spoke to the Guardian for its report on the trend noted. But it is also a wide report, taking in entertainment, internet, books, and live events spending.
On average, Australian households pay for 2.3 subscriptions, which typically cost said households $55 each month.
More than 80% of households are expected to pay for a streaming service by the end of 2022.
It’s important to add that aside from entertainment subscriptions, the total spend in PwC’s calculation includes internet access, which costs most households around $100 a month.
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