More long-term subscribers leaving Netflix, research suggests

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Netflix’s current problems have been highlighted by recently published data indicating that an increasing number of its long-term subscribers are leaving the streaming service.

The results of a survey conducted by data analytics firm Antenna and reported by The Information show that 13% of cancellations in the first quarter of this year were related to Netflix subscribers who have been with the service for at least three years, compared to 10% in the same period a year ago and 5% in the same period two years earlier.

Antenna, which comes to its numbers after examining data from a group of five million Americans who anonymously share their streaming subscriptions, also said the survey found that new subscribers accounted for 60% of cancellations in the first quarter of 2022, a number of new subscribers. down 4% from the previous three-month period, suggesting it is making some progress in its effort to retain new customers.

The investigation follows an update from Netflix last month which revealed that 200,000 subscribers worldwide had ditched the streaming service in the first quarter of this year, though that number is expected to rise to two million in the current quarter.

Customers may hit the “cancel” button for a number of reasons, but a decision to curb spending in the face of rising household bills from rising inflation is likely to be a major factor. Such cuts will, in some cases, mean customers will have to ditch several streaming services in favor of just one or two, and with rivals like Disney+, Amazon Prime, Apple TV+, HBO Max, and Hulu, among others, competition is fierce.

Brendan Brady, Antenna’s media and entertainment leader, pointed out that some of those rival streamers have taken their own content off Netflix and posted it on their own services, forcing Netflix “to rely more on its originals, whether hit or miss. ”

In an effort to attract new customers and retain existing customers, Netflix plans to launch an ad-supported tier with a lower monthly subscription fee, likely before the end of this year. In another effort to make its service more appealing, it is also considering adding a live streaming element to its service with several unscripted shows and stand-up specials.

Check out Digital Trends’ handy guide to find out what’s currently available on the myriad of video streaming services.

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