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Survey: 39% of Customers Have Canceled a Streaming Service in Past Six Months

Survey: 39% of Customers Have Canceled a Streaming Service in Past Six Months

We all have streaming services that we can’t live without — they have our favorite shows on them or are consistently releasing new shows of interest and movies. Many of us are also likely guilty of joining a service because a new show came on that we had to see, even though we don’t necessarily want to be in a long-term relationship with the streamer. This practice of cycling through subscription video-on-demand (SVOD) services based on what new content is available at any given time has become incredibly popular as prices increase, and it is a growing problem for streamers.

A recent survey from Reviews.org found that 39% of streaming customers canceled a subscription within the last six months. With the average streaming service ranging between $5 and $10, having multiple platforms can quickly add up — especially when you take into account that several major platforms have increased their monthly rates by approximately 25% in recent months. While 43% of those surveyed cited cost as the main reason that they canceled, the decision came down to other factors for many customers.

Perhaps unsurprisingly, just 1.57% of people surveyed said that they were switching to cable, 2.17% said they didn’t like the number of commercials, another 6.46% said their favorite show was no longer available, but the second biggest reason that people canceled was that they didn’t feel there was enough to watch on the service.

While the report indicates that 21% of survey respondents had already canceled their Netflix subscription in the past half year, the world’s largest streamer was also the service that the survey crowned as the must-have platform. Hulu was in a close second place at a 20% cancelation rate in the survey, followed by Peacock at 14%, and 13% for HBO Max.

However, Hulu and Peacock did very well on the must-have list. While Netflix is the far and away leader in the category, as the top streamer for 43.32%, behind Prime Video at 17.09% was Hulu (15.89%) in third and Peacock (8.13%) in fourth).

With the sheer number of streaming services seemingly increasing every day and the rising costs of maintaining multiple services, it may be difficult to choose which service simply has to go. However, as prices continue to rise and budgets continue to get tight, there will need to be ways for customers to save money on streaming, whether that’s routinely canceling services based on the content available or focusing just on their must-have streamers, consumer behavior seems to be moving to smaller streaming stacks than in recent years.

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