Which psychological principle do music streaming services primarily exploit when offering 'family plans' that provide multiple accounts at a discounted rate compared to individual subscriptions?

Streaming services have revolutionized the music industry, but their subscription models are carefully crafted using consumer psychology principles. This trivia question explores how music platforms leverage psychological tactics to increase subscriber retention and reduce churn. Test your knowledge about the strategic design behind the music services millions use daily!

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Loss aversion - where consumers overvalue what they might lose (the family discount) compared to what they might gain by switching services
Paradox of choice - where limiting options to just individual or family plans makes the decision-making process less overwhelming
Mere exposure effect - where consumers develop preferences for services simply because family members repeatedly mention them
Anchoring bias - where the family plan price serves only as a reference point to make individual subscriptions seem more reasonably priced