What you will find in the article:
- Average Czech spends 12,000 CZK annually on subscriptions.
- Oneplay surpasses Disney and PlayStation in popularity.
- Digital services account for over half of subscription payments.
- Czechs spend 40% less on subscriptions than Central Europeans.
- Visa to enhance subscription transparency for cardholders in 2024.
The average Czech spends nearly 12,000 crowns a year on subscriptions to digital services, streaming platforms and other regular payments. This is according to an analysis by the fintech firm Tapix, part of Dateio, which found that these expenses account for approximately six per cent of all card transactions. Around 40 per cent of customers have at least one active subscription, whilst one in four users subscribes to two or more services simultaneously.
The average monthly spend on subscriptions amounts to approximately 1,000 koruna. However, compared with the Central European average, Czech customers are more frugal. They spend around 40 per cent less on subscriptions, and the average price per service is also lower, standing at roughly 345 koruna per month in the Czech Republic.
The largest share of regular expenditure goes towards digital services, such as software or cloud storage, which account for more than half of all subscription payments. Approximately one-third of expenditure is spent on leisure services, including music and video streaming.
In terms of the number of transactions, services from Apple, Google Play, Netflix and Spotify dominate. The Czech platform Oneplay took fifth place, ahead of Disney and PlayStation, for example. Oneplay also ranked in the top ten by spending volume, coming in eighth place.
In terms of payment volume, Apple leads, followed by Netflix and Google Play. Alongside technology and media services, the top ten also included the insurance companies Allianz and Generali, as well as the telecoms operators T-Mobile and O2.
Tapix also points out that an overview of subscriptions is becoming an important part of digital banking. According to Ivan Dovici, co-founder of Dateio, recurring payments are difficult for many users to keep track of because they are debited automatically.
From this April, Visa card issuers in selected European countries, including the Czech Republic, must provide customers with clearer information about subscriptions. Furthermore, from January 2027, the obligation to display more detailed information about merchants in digital banking – such as their name, address or website – will be extended. Mastercard has also previously introduced similar rules.
“For non-bank clients, subscriptions account for up to half of all card transactions; for traditional banks, the figure is around one-tenth. For financial institutions, clear management of these expenses is already becoming an essential standard, without which they will not succeed with younger customers. In future, it will therefore become increasingly important for banking apps to be able to handle recurring payments just as clearly as regular transactions, and to help people better understand where their money is going each month,” adds Dovica.
Source: mediaguru.cz