A new survey about which streaming services consumers prefer has shed a lot of light on the future of Apple TV+, Netflix, and more. As per the survey, 1 in 4 Netflix subscribers plan to leave the service this year.
Streaming giant Netflix is in hot waters, continually losing subscribers
Reviews recently conducted a survey with 1,000 respondents in the United States to learn about their streaming behaviors and preferences. The survey revealed that the average American is subscribed to four streaming services, with 78% of users subscribed to Netflix. However, 25% of those users want to leave the service.
Here is a breakdown of the streaming services users are subscribed to:
- 78% subscribe to Netflix
- 46% are Disney+ subscribers
- 42% subscribe to HBO Max
- 33% are Peacock subscribers
- 26% subscribe to Hulu
- 22% are Apple TV+ subscribers
- 5% subscribe to Hulu
- 5% are Amazon Prime subscribers
Even though 70% of respondents actively use their Netflix subscription, 25% of them are planning to leave the service. There are three main reasons for this:
- 1 in 3 respondents said that the service no longer offers the shows they want to watch
- 30% said that they use other streaming services more
- Rising subscription costs coupled with inflation
Netflix lost 1.2 million subscribers in the first two quarters of 2022, with 200,000 subscribers lost in the first quarter, causing its market share to reduce. At the same time, its competitors including Apple TV+, Disney+, Hulu, etc, continued to see growth.
With this in mind, the company has been readying a cheaper ad-supported tier to attract more users to the platform. Though Netflix has been against adding ads to its service, the amount of subscribers it has recently lost and is forecasted to lose in the future might not leave it with another option.
As for when the new ad-supported tier will arrive, Netflix is aiming for a November launch, ahead of the launch of Disney Plus’ own ad-supported tier, which is set to arrive in December. In July, investors of the service were told that the company would launch the new tier in the first few months of 2023. However, it is now set to launch on November 1 in the United States, Canada, United Kingdom, France, Germany, and more.
The ad-supported tier is reportedly going to cost $7-8/per month and viewers will be shown four minutes of ads per hour.