While consumers juggle more subscriptions, they’re also feeling the strain from inflation.
To put it bluntly, they’re trimming the fat.
Consumers falling behind on payments are trading down for generic brands, hunting for deals, and becoming more frugal across the board.
And behavior changes are absolutely trickling into the world of streaming.
Namely, consumers are now playing the game.
Here’s what we’re watching unfold in the streaming sector, and how the major players stack up…
Consumers are getting smart about subscriptions
We see strong evidence of content-based cancellations and renewals.
This appears to impact Apple TV, Disney+, and HBO Max most significantly.
You can see all companies logging extremely high rates of cancellation mentions on a YoY basis while new content lags.
Meanwhile, streamers providing live content, especially live sports, appear more insulated.
Netflix is also outperforming peers comparatively, thanks to its wide library – though +91% increased cancellation rate is nothing to brag about.
This brings us to our second key takeaway…
Streamers aren’t Loyal to Platforms, they just want Content
Sunday’s Yellowstone Season 5 premiere was a prime example of consumers’ lack of platform loyalty.
The event lured in 12.1 million live-plus-same-day viewers, its largest premiere yet.But what’s critical is HOW it achieved this record viewership.
Aside from being generally good content, the series expanded streaming access.
Yellowstone wasn’t ONLY launched on Paramount Network. It supported simulcast airings on CMT, TV Land, and Pop (and streaming channels who provide access to those channels) – thus, adding in more than three million extra viewers.
While access was technically expanded, many consumers still expressed frustration and confusion related to how to watch.
Bottom Line: the pressure is building
Consumers are getting wise to the streaming game, and they don’t have a personal connection with any provider.