Which streamers are viewers adding, leaving in shaky economy?
Which streamers are viewers adding, leaving in shaky economy?
New data from Civic Science shows which streamers are drawing the most interest as viewers scrutinize their choices more closely.
When the economy worsens, entertainment budgets are one of the first things households look to cut. A recent survey from LG Ad Solutions shows that currently, viewers are already planning to stream more video at home instead of spending lavishly on outings. New data from Civic Science shows which streamers might stand to benefit from the trend of consumers staying in to have fun, and which may suffer from large-scale customer departures brought on by economic uncertainty.
Key Details:
- No surprise here: Netflix leads all streamers in terms of consumers interested in signing up.
- No cancellation needed?: Over 50% of respondents said they don’t plan to cancel a streamer at all.
- Bad Apples: An increasing number of Apple TV+ subscribers say they may not keep their accounts.
Civic Science took a look at which streaming services consumers say they plan to subscribe to, as well as cancel in the next 30 days. Netflix was the most-given answer as to which streamer viewers wanted to add most, followed by Prime Video, with Hulu rounding out the top three.
Perhaps because of external economic conditions or maybe due to the market reaching maturity, viewers are planning to cancel streaming services far less frequently than they are considering adding them. Netflix was the most-given answer when consumers were asked which streamers they planned to leave, but that’s likely due in part to the fact that it has the most customers to lose in the first place, with over 300 million global subscribers.
Click chart to expand.
More encouraging for streamers is the fact that 57% of respondents said that they don’t plan to cancel any services in the next 30 days, a reflection of the belief that they look on streaming as a cheaper way to get entertainment than a night at the movies or going out to a show or concert.
But Civic Science’s numbers do hold warning signs for one streaming service in particular: Apple TV+. Fifty-three percent of Apple TV+ customers say they need another streaming service to satisfy the needs of everyone in their household. Worse yet, the number of viewers who say that they use Apple TV+ but may not keep it has been steadily growing since January, and is now above 10%.
Click chart to expand.
The data shows that streaming services might stand to gain from the current economic climate, but those that can offer something for everyone have a better chance of attracting new subscribers and keeping the ones they already have. Netflix clearly is ahead of the curve in this regard, but Apple TV+ may have to tread carefully in the months ahead.
Apple TV
Apple TV (formerly known as Apple TV+) is a subscription video streaming service for $14.99 per month, offering a growing slate of original series, films, documentaries, and specials. Unlike other platforms that combine licensed titles with originals, Apple TV is built entirely around exclusive programming, making it the home of critically acclaimed hits such as “Ted Lasso,” “Severance,” “The Morning Show,” and “Silo.” Its lineup continues to expand with award-winning dramas, comedies, family-friendly shows, and blockbuster original films like “CODA,” which won the Academy Award for Best Picture.