You Just Can't Seem to Quit Netflix. You're Not Alone. | Global News Avenue

You Just Can't Seem to Quit Netflix. You're Not Alone.

Key Points

• According to research on the subscription economy, nearly half of Americans who give up video streaming subscriptions will eventually return within a year.
• Consumers surveyed say the main reason they discarded their subscriptions is to save money.
• Streaming has become a bigger resistance to budgets, with average bills for both ad-free and ad-supported programs increasing in recent years.

Remember when you canceled Netflix to save a few dollars? If you are like most Americans, you’ve been in a long time and can’t cover more tanks than a gasoline or two.

According to Antenna’s research, nearly half of people abandoned their video streaming plans to resubscribe within a year, which analyzed the subscription economy. Many people returned even faster, with 25% rebounds in three months and 34% in six months, analysts said.

Streaming has become a bigger resistance to budgets, with average bills without ad plans growing by 23%, and average payments for AD-enabled subscriptions have increased by 25% over the past two years, Antenna said. Netflix (NFLX) Increased prices Earlier this year, about $1 to $2, and Walt Disney (dis) Increased rates For Hulu, Disney+ and ESPN+ this fall.

According to a survey conducted by KPMG in 2023, reducing monthly spending is the main reason consumers cancel their streaming services. But 20% of people added streaming services based on what they were provided, the report said.

Start with the stream About $8 per monthwithout it a year it can save people on a budget of less than $100 a year. This is enough to accommodate two main courses, a bottle of wine and tip on the red lobster in Times Square.

According to Antenna, the average monthly net churn in the streaming industry is a measure of subscriber decline, which is about 3%. “Video streaming is becoming a more mature and sustainable growth model,” its report said.