If streaming and subscription price hikes are pushing you into a corner, you’re not alone.

A NAB survey found almost two in five Australians have cut back on a streaming service in the past three months, in areas ranging from video-on-demand (VOD) to music.

The number of Australians ditching streaming is up 12 per cent on this time last year, with Gen Z the most likely to scale back their memberships.

Streaming platforms are not the only services in the firing line.

More than 30 per cent of Australians have also trimmed spending on other subscriptions such as magazines and apps, saving an average of $56 each month, or $672 a year.

It comes as paid streaming video-on-demand (SVOD) platforms make some of the biggest changes to their prices.

One of the most recent examples is Amazon Prime Video, which took the brazen approach of automatically enforcing ads on existing accounts in select countries while introducing a more expensive subscription tier for people wanting an ad-free experience.

Platforms such as Netflix have also put an end to password sharing, with others such as Disney+ keen to follow suit, meaning subscribers that don’t live in the same household can no longer share the costs of their favourite entertainment services.

The companies’ cash grabs have frustrated consumers – and may even have contributed to a rise in piracy.

Finder streaming and broadband expert Mark Neilsen previously told The New Daily streaming platforms were “low-hanging fruit” when belts tighten to ease cost-of-living pressures.

“You can usually quite easily cancel [a streaming platform subscription] … it might be seen more as a luxury, so it’s probably one of the easiest things that people can cut,” he said.

Top tips to cut down subscriptions

As money-saving tactics such as password sharing are removed, Neilsen previously said Australians could move between platforms, rather than just signing on to a service and hanging on to it.

When it comes to the wider variety of subscriptions that may be hurting your bank account, it’s important to take stock of the sheer number, how often they charge and what they cost.

“Australians might be surprised to find out just how many subscriptions they’ve signed up to without even realising,” NAB retail customer executive Larna Manson said.

It may be time to re-evaluate that monthly wine subscription. Photo: Getty

“Decluttering expert Marie Kondo put it best when she asked ‘Does it spark joy?’ – you could save hundreds of dollars each year by unsubscribing from old, unused or expensive products and services.

“You might have got to the end of a series or ebook, don’t need extra cloud storage for photos, changed up your meal plans or cooking or don’t need such regular deliveries of wine, toiletries or clothes and apparel.”

Manson said even small changes, such as opening a shared family account to split costs or downgrading a plan, could make a big difference.

But University of Tasmania senior lecturer in retail marketing Louise Grimmer said some companies made customers work hard to unsubscribe from their goods and services.

“You might have to call up during business hours or live chat to cancel. Those options might not be available on your mobile, they might be buried deep in account settings, or you might be tempted with offers to stay,” she said.

“Common traps also include forgetting about annual subscriptions you’re signed up to that can be charged in one hit, missing renewal reminder emails or even paying for the same subscription multiple times.”

Consumer organisation Choice has also warned about “subscription traps”.

“From making it near-impossible to speak to customer service to a slew of tactics designed to dupe you into spending more money, it feels like unfair business practices are everywhere,” it said as part of its “Make Unfair Illegal” campaign against dodgy business practices.

“And until there’s a law to stop them, companies will continue to get away with taking advantage of people.”