K&H: young people must reckon with digital overheads

By: Trademagazin Date: 2024. 12. 16. 11:15

Families’ digital overheads are so high that a streaming subscription as a gift can be a real Christmas surprise. The question is whether the recipient will be able to maintain it in the long term, as the prices of paid digital services (internet, movies, music) are constantly climbing. In the K&H Vigyázz, szét, pénz! competition series for students, which is entering its fifteenth anniversary season this year, savings tips are given a prominent role, with which the adverse effects of rising prices can be mitigated.

In the past decade, the digital version has arrived alongside traditional overheads. An average consumer in the United States spends almost 24 thousand forints ($61 per month) on streaming services, according to a survey by the consulting firm Deloitte. The research revealed that this is such a high amount that if it were to increase by nearly 2,000 forints ($5), people would be willing to cancel their subscription even if it meant giving up their favorite series.

Thus, a subscription to a digital service – YouTube, Spotify, HBO or Netflix – can now be considered a valuable gift for young people. Especially since, according to a K&H survey, the vast majority of 15-24 year olds already consume media primarily through these platforms, rather than traditional channels (TV, radio, newspapers), primarily for entertainment purposes. This age group is therefore likely to be in for such a surprise, especially since the free versions greatly impair the experience of listening to music and watching movies due to advertisements. K&H Vigyázz, szétő, ménez! According to experts, it is worth considering how to save on these expenses, especially when we consider that the digital overhead expenses in the American example can easily be met on a monthly basis in Hungary, per capita.

So much so that according to the summary of the Hungarian specialist portal PC World, digital overhead expenses are slowly rivaling traditional expenses. The latter (common expenses, electricity and gas bills, TV and telephone subscriptions) were estimated by the editors of the specialist portal to be around 60 thousand forints for a 60 square meter apartment in a condominium. They then took a look at the amounts spent on various forms of digital media, which revealed that, based on the principle of “a lot goes a lot”, digital media overhead can be up to tens of thousands of forints. This is especially typical for families where several young people live under one roof, because according to a K&H survey, the younger an age group is, the more it turns to new digital platforms and social media.