September 16, 2021
Consumers are almost maxed out on subscription video-on-demand services, according to a Whip Media study of nearly 4,000 U.S. consumers.
Survey respondents said they subscribed to an average of 4.7 services and plan to add only one more. More than two thirds (70%) of respondents said they feel that there are too many subscription services on the market; most of them (85%) said it’s getting too expensive; and one-third (32%) said they had canceled an SVOD service in the past year.
However, churn is spread out over all of the SVODs, and all of the services were relatively sticky in that Disney+, Netflix and Apple TV+ had the highest cancellation rates at a mere 6%.
The majority (60%) of respondents said they prefer to pay for an ad-free service.
Netflix was the most indispensable SVOD platform. When asked if they could only keep one streaming service, 41% of consumers said Netflix would be their choice if they could only keep one; followed by Hulu (21%), HBO Max (13%), Disney+ (9%) and Amazon (6%).
However, when ranked on SVOD satisfaction, HBO Max jumps to the top spot. Of the major services, AppleTV+ is in the most precarious position as the streaming service consumers said they were least satisfied with and least likely to keep.
In the survey, 92% of respondents said they find library content very important or important, while 78% of respondents felt original content was very important or important.
The Whip survey was fielded with 3,960 U.S. TV Time app users from June 9-13, 2021. Results were weighted to balance with the U.S. general population, by gender and age (13-54).