"Rising Costs and Poor Content Drive Surge in Streaming Subscription Cancellations"
TL;DR
Streaming services are facing increased customer cancellations, with the rate rising from 5.1% to 6.3% in November, as reported by the Wall Street Journal using data from Antenna. This trend coincides with several platforms, including Amazon Prime Video, Netflix, Peacock, Paramount+, Hulu, and Apple TV+, raising their subscription prices or introducing ad-supported plans to offset costs and boost revenue. Netflix has seen about 30% of new subscribers choosing its ad-supported plan, indicating a shift in consumer preference towards cheaper options amidst the rising costs of streaming subscriptions.
Topics:businessbusiness-and-economy##adsupportedplans#business-and-economy#pricehikes#streamingindustry#streamingservices#subscriptioncancellations
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- Streaming revolt: Customers turn their backs on Netflix, Hulu, and Prime amid skyrocketing prices, annoying ads, and unwatchable shows Fortune
- More customers cancel their streaming services as rates rise: report New York Post
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- More people are canceling their streaming subscriptions KTLA Los Angeles
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