Site icon muskoka411.com

Survey Says 73% Of Canadians Trapped By Recurring Subscriptions

(CNW Group/Money We Have)

Hardbacon, a personal finance application, today unveils the results of a new survey on recurring subscriptions in Canada. These results reveal how Canadians struggle to manage these recurring expenses that accumulate over time and include a ranking of the 50 most popular subscriptions in Canada.

Canadians Have Too Many Subscriptions

According to the survey, 73% of Canadians admit to having subscribed to a service to take advantage of a free trial period or a promotional price with the intention of unsubscribing, but forgot to do so in time. No less than 66% of Canadians admit to having paid for a subscription they had forgotten they had.

The survey also reveals that the average Canadian has 8 recurring subscriptions, despite thinking they only have 4. This difference was measured by asking respondents to estimate how many recurring subscriptions they had at the beginning of the survey, after which they were invited to select the paid subscriptions they had in different categories. “This result shows how pernicious recurring subscriptions are from a budgetary standpoint, as few people know how many subscriptions they have or how much all these subscriptions cost them annually,” comments Julien Brault, CEO of Hardbacon.

Even when they attempt to unsubscribe, many Canadians face another obstacle: the difficulty of unsubscribing. No less than 55% of Canadians have already postponed the task of unsubscribing because the process is too difficult, which often involves making a phone call even though the initial subscription was made online.

Although a large part of Canadians (47%) use credit cards to pay for these subscriptions, a substantial proportion of them prefer to use Visa or Mastercard debit cards (27%), PayPal (11%), and prepaid cards (4%), notably to avoid getting into debt or to be able to unsubscribe more easily.

The Most Popular Subscriptions in Canada

The list of the most popular subscriptions in Canada is unsurprisingly dominated by Amazon Prime and Netflix. However, there are some surprises, including the popularity of platforms that allow creators to generate subscription revenue like Patreon,  Twitch and OnlyFans. It was also interesting to see the popularity of Canadian products like CAA, Crave, CBC Gem Premium, and PC Optimum Insiders. Here are the 50 most popular recurring subscriptions in Canada:

  1. Amazon Prime
  2. Netflix
  3. Costco Membership
  4. Disney+
  5. Spotify Premium
  6. CAA Roadside Assistance
  7. Crave
  8. YouTube Premium
  9. Apple TV+
  10. Nintendo Switch Online
  11. Google One
  12. Xbox Game Pass
  13. Paramount+
  14. Apple Music
  15. Gem Premium / Tou.tv Extra
  16. Amazon Music
  17. iCloud+
  18. PlayStation Plus
  19. PC Optimum Insiders
  20. SiriusXM
  21. DashPass
  22. NordVPN
  23. Uber One
  24. Patreon
  25. Audible
  26. BritBox
  27. ChatGPT Plus
  28. Crunchyroll
  29. New York Times
  30. Private Internet Access VPN
  31. OnlyFans
  32. YouTube Music
  33. HelloFresh
  34. Instacart+
  35. SurfShark VPN
  36. 1Password
  37. Discovery+
  38. Triangle Select
  39. STARZ
  40. LastPass
  41. Duolingo Plus
  42. Club Illico
  43. Sportsnet Now
  44. Chefs Plate
  45. Communauto
  46. Twitch Channel
  47. Curiosity Stream
  48. Stack TV
  49. Dropout
  50. Linkedin Premium

This online survey, conducted by Hardbacon from February 2 to February 13, 2024, gathered responses from 516 Canadians aged 18 and over. To learn more or to access the full list of the most popular subscriptions, consult the survey results on Hardbacon.ca.

Exit mobile version