Jump to content

UK households are cancelling streaming subscriptions to save money


Karlston

Recommended Posts

1650286938_gjevgn_(11)_story.jpg

 

Due to the recent hike in energy prices and cost of living, UK households are reportedly cancelling streaming subscriptions. Citing a report from market research firm Kantar, the BBC states that 1.51 million subscriptions were cancelled in the UK in the first three months of 2022 alone. Roughly 500,000 people stated that they cut these services to save money for the higher cost of living in the region.

 

Although there was a spike in subscriptions during the height of the pandemic, the people who are planning to can subscriptions in order to save money jumped to 38% in the first quarter of 2022, compared to 29% in the same period last year. This was also the slowest quarter ever in terms of new subscribers.

 

The firm also noted that Netflix and Amazon Prime Video are the services which are least likely to be cancelled in UK households, whereas others like Disney+, Now TV, Discovery+, and BritBox experience a high churn rate. Overall, 58% of UK households are subscribed to at least one streaming service.

 

According to Kantar, Amazon's Reacher was the most watched show in the UK during the first quarter of 2022, followed closely by Netflix' Inventing Anna and Ozark. Interestingly, the market research company also noted that UK households are now more open to the idea of ads in streaming services, if it brings down the cost of the subscription:

 

[...] Netflix chief financial officer Spencer Neumann added fuel to the fire by saying in March "it's not like we have religion against advertising".

 

Data across Great Britain shows Netflix subscribers' attitudes to advertising are softening, with 44% now stating they don't mind seeing on streaming services if it makes them cheaper, a significant rise from 38% at the same point in 2021.

 

It remains to be seen if this trend will continue, but given the increasing costs all over the globe, streaming giants may have to figure out some ways to retain subscribers and attract new ones.

 

Source: BBC

 

 

UK households are cancelling streaming subscriptions to save money

  • Like 2
  • Thanks 1
Link to comment
Share on other sites


Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

  • Recently Browsing   0 members

    • No registered users viewing this page.
×
×
  • Create New...