By ERIK GRUENWEDEL
Source: www.mediaplaynews.com, October 2022
The market saturation of subscription streaming video services is beginning to impact consumer behavior. The combination of subscription price increases and choice of platforms finds that streaming service providers have seen an uptick in “streaming fatigue,” with nearly two out of three people canceling at least one service because of price and nonuse, according to new data from Blu Label Labs.
A survey of 1,005 respondents in North America between the ages of 15 and 67, conducted over the Web between May and August, revealed that the most-canceled streaming service in the past year was Amazon Prime Video at 9.46%, followed by Netflix at 8.55% and Disney+ at 8.33%.
The survey found that most subscribers (37.4%) report canceling because of non-use, while 25.9% canceled because a service was considered too expensive.
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Regarding ads, 51.9% of respondents said they would deal with ads for a lower streaming price point, 18.8% would pay more to remove ads, and 19.4% delete apps with ads.
Rather than use a paid streaming service, 22.4% of respondents report spending more time with YouTube’s free version, 17.5% spend more time on Instagram, and 14.2% use TikTok more frequently.
“Around 10% of people seem to cancel because of the volume of transactions it takes to maintain several streaming subscriptions — while it might still be economical, the perception of ‘having too many’ platforms has influenced some respondents’ choice to cancel at least one service,” read the report.
