24% of Public to Cut Back on Streaming Services Amid Rising Inflation

U.S. consumers are “picking their pets" over the latest "binge-worthy Netflix shows” in deciding which areas of “discretionary spending” to reduce to cope with the biggest rise in inflation in 40 years, reported First Insight Thursday. The analytics firm canvassed 1,000 people by email this month in a sample that was “proportionately balanced” by generation, region and gender, finding 42% plan to reduce spending on dining out to cope with rising prices, and a third saying they will cut back on entertainment, it said. Only 16% said they will reduce spending on pet services, it said. About a quarter (24%) plan to curtail spending on streaming services, putting that in the middle of the pack of about a dozen discretionary spending options.