The streaming platform, Netflix is trying very hard to engage its users. It has already lost 1.2 million subscribers in the first two quarters of 2022. It’s quite sad for the company. Due to this, Netflix introduced a new ad-supported tier that was cheaper than the regular one. However, still, the company is facing ups and down as a survey recently revealed that 1 in 4 users are planning to cancel their Netflix subscriptions this year. It means that almost 25% of Netflix subscribers will leave the service in 2022.
Many Netflix Subscribers Plan To Leave The Streaming Service
According to a recent survey, the streaming habits of almost 1,000 Americans were monitored in 2022. According to the report, it was revealed that the average American has subscribed to four streaming platforms. No doubt, Netflix is still the most famous streaming service with nearly 4 out of 5 Americans currently subscribed to the platform. In addition to that, 70% of Americans say they use Netflix the most, followed by:
- HBO Max: 9.91%;
- Disney+: 6.18%;
- Peacock: 4.25%;
- Hulu: 3.86%;
- Apple TV+: 2.70%;
- Paramount+: 2.70%
The bad piece of news is that 25% of Netflix subscribers are planning to cancel their subscriptions due to the increasing costs of the subscription. According to the survey, Netflix has the highest average plan cost as compared to the eight more popular streaming services in the US.
The other big complaint from Netflix users is stated down below:
- 1 in 3 subscribers stated that Netflix no longer has the shows they want to watch
- 30% stated that they use other streaming services more. Furthermore, the survey showed the percentage of subscribers each of the most popular streaming services has:
- 78% are Netflix subscribers;
- 46% are Disney+ subscribers;
- 42% HBO Max subscribers;
- 33% are Peacock subscribers;
- 26% subscribe to Hulu;
- 22% are Apple TV+ subscribers;
- 5% are Amazon Prime subscribers.
Netflix is quite worried about losing more subscribers, however, it is still the most popular streaming service with a 70% share of the overall subscriber market. If Netflix loses more subscribers in the future, there will be room for growth for Apple TV+ as it bundles its streaming service with all Apple One subscription options. Moreover, its award-winning catalog costs just $4.99, which is becoming more enticing than ever.
Laiba is an Electrical Engineer seeking a placement to gain hands-on experience in relevant areas of telecommunications. She likes to write about tech and gadgets. She loves shopping, traveling and exploring things.