Monzo data shows spike in Netflix subscriptions after password-sharing crackdown
Monzo’s yearly spending data sheds a light on the shopping habits of its more than eight million customers in Britain.
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Your support makes all the difference.Netflix subscriptions spiked after the streaming platform cracked down on password-sharing, while the Barbie and Oppenheimer film releases saw cinema trips surge more than three-fold, new data from digital bank Monzo has shown.
Monzo’s yearly spending data sheds a light on the shopping habits of its more than eight million customers in Britain.
Spending on Netflix increased by nearly a quarter after the platform moved to squash password sharing in May, compared with the first few months of the year.
The global company introduced a cost for users who wanted to add an extra member outside of the household to their account, leading to a rise in the number of people paying for the service.
British cinemas enjoyed a boost around the releases of Barbie and Oppenheimer, with spending surging by 260% on July 22 when both films came out, compared with the daily average up to then.
The data also showed that people poured cash into tickets for popular live shows.
Spending at Ticketmaster jumped by 340% on February 7 when Beyonce released tickets for her Renaissance world tour, compared with the average spend during the previous seven days.
And spending rocketed by 460% on July 10 for Taylor Swift’s Eras Tour pre-sale.
The “Year in Monzo” feature, similar to the Spotify Wrapped campaign, gives customers of the bank insights into their personal spending habits.
People will be able to access their own end-of-year report from 7am on Monday, which will also show whether a customer is among the top 5% of spenders on apps such as Uber and Deliveroo.
Elsewhere in the nationwide spending data, Leicester came out as the nightlife capital of the UK, with the most late-night spending on entertainment.
People in Liverpool spent more than anywhere else on late-night food between 11pm and 4am, while Londoners visited McDonald’s most frequently after dark.
Londoners also spent almost £23 million at Pret A Manger over the past year.
But McDonald’s was the top place for eating out in every place in the UK except for Sunderland and Newcastle, where people preferred Greggs.
Meanwhile, Tesco was the favourite supermarket in all regions except London, where shoppers preferred Sainsbury’s, according to Monzo customers’ spending.