Recently published data shows that an increasing number of long-term subscribers are abandoning the streaming service.
The results of a survey conducted by Antenna and reported on by The Information show that in the first quarter of this year, a small percentage of cancellation were linked to people who have been with the service for at least three years.
According to Antenna's figures, new subscribers accounted for 60 percent of cancellation in the first quarter of 2022, down 4% from the previous three-month period.
In the first quarter of this year, 200,000 subscribers left the streaming service, but it expects the number to jump to two million in the current quarter.
A decision to rein in spending in the face of rising households bills caused by soaring inflation is likely to be a major factor. In some cases, customers will ditch several streaming services in favor of just one or two, and with rivals such as Disney+, Amazon Prime, Apple TV+, and Hulu, among others, the competition is tight.
Brendan Brady, Antenna's media and entertainment lead, pointed out that some of those rivals have been putting their own content on their own services, which has forced the company to put more of its own content on its service.
In order to attract new customers and retain existing ones, the company is planning to launch an ad-supported tier with a lower monthly subscription fee by the end of the year. Adding a livestreaming element to its service is one way it is trying to make it more attractive.
Digital Trends is a handy guide that can help you find what you're looking for on video streaming services.
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