April 16, 2019
Heading into Netflix’s first-quarter (ended March 31) fiscal results release, new research from The Harris Poll found that 86% of respondents stream the SVOD pioneer, followed by Hulu (53%) and Amazon Prime Video (49%).
The survey, commissioned by ad-exchange OpenX, found that despite Netflix’s recent price hike, the average amount subscribers would pay monthly for a single OTT service subscription is $22 — which is 37.5% more than Netflix’s most-expensive $15.99 plan.
Indeed, the poll found Netflix has become an integral part of people’s lives, with half of users also subscribing to Hulu (52%), Prime Video (54%), YouTube TV (29%) and HBO Now (24%).
Notably, 31% of respondents would watch ads on Netflix for a lower monthly subscription price; while 24% would watch ads on Netflix, but only if the service was free.
“It will be telling to see if Netflix’s growth numbers are adversely impacted by the price hike; especially now that Disney+ will be significantly undercutting Netflix on price,” Dallas Lawrence, chief brand officer at OpenX, said in a statement.“According to our data, Netflix users are too loyal to leave over a few dollars cost increase.”
Indeed, the poll found Netflix replaces the need for cable/satellite TV for about half (47%) of respondents; with 46% planning to keep their cable/satellite TV package in addition to Netflix.
“Recent announcements by Apple and Disney signify Netflix’s reign as the undisputed king of streaming services may be coming to an end,” said Lawrence. “It’s early in this massive shift of consumer attention from linear TV to OTT to make any calls just yet. As the percentage of Americans who stream content gets closer to 100% [from current 50%], there’s still growth potential for Netflix in the U.S.”