Apple TV+ and subscribers of other streaming services are canceling more of their plans compared to the year-ago period.
Alexandra Canal for Yahoo Finance:
According to new data from consumer measurement platform Antenna released on Tuesday, US subscriber churn — or the act of paying users abandoning their streaming plans — was elevated last month when compared to the year-ago period.
Across all streaming platforms, churn in July stood at 6%, higher than the 4.7% seen in the same month last year. Churn rose for every major streaming service except for one: Netflix
Antenna’s data showed churn rates eased slightly, to 3% from 3.1%, for Netflix despite the company rolling out its controversial password-sharing crackdown.
Others weren’t so lucky. Apple TV+ saw its churn rate jump to 6.4% last month versus 5.5% in July 2022. Churn rates for Disney’s service rose to 4.6% compared to 4.0% in the year-ago period, while the churn rates for Hulu, Max, and Peacock climbed by 0.8%, 1.1%, and 1.5%, respectively.
Overall, Lionsgate’s Starz had the highest monthly churn in July compared to other major streaming platforms at a rate of 11.9%, followed by Peacock at 8.7% and Paramount+ at 7.4%.
MacDailyNews Take: Higher prices amidst high inflation combined with Netflix’s password sharing crackdown are the likely contributors. Those who were sharing Netflix passwords had a choice to make. Those who chose to begin paying for Netflix see to have canceled out those who left Netflix, but some percentage of those who began paying likely canceled another or multiple other services to cover the cost. In other words, the high churn of July was an anomaly due to a conflux of events.
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Not buying it. The churn will continue as it has for years in cable, as the prices rise. As the field of competitors and choices become overwhelming, people make choices to simplify and that means continued churn until consolidation takes place. Free markets eliminate overwhelming choices and cost. This will continue until there is less choice and Netflix will come out on top.
Kinda hard to get subscribers when the writers are striking. Furthermore, the 3 year wait for the next season of Severance is a F’n joke.
This is probably one instance having a syndicated content library in addition to original content makes the difference in keeping subscribers.
adding more lgb T qia characters and storylines might help. maybe toss in some climate stuff, too
HA! You win.
I tried 4-5 free trials, Apple TV+ never appealed to me in the slightest. The nauseating forced diversity totally eliminated the suspension of disbelief. YouTube Premium + YouTube Music on the other hand, for $12.99/month, is a no-brainer. It’s my only entertainment subscription. The commercial free experience for unlimited, non-Hollywood content is unsurpassed. I’d give Apple another look if they had a huge catalog of classic, pre-1970 movies, but they probably consider those racist-sexist-homophobic-transphobic-lilywhite, so I’m not holding my breath.