November 3, 2020
As the SVOD pioneer and a market behemoth (195 million subscribers), Netflix’s interaction with consumers in the over-the-top video ecosystem is always noteworthy to market researchers.
New data from KillTheCableBill.com finds that a majority (54%) of Netflix subscribers share passwords with friends outside the home, and a majority are not opposed to the service’s latest price hike. But another 25.7% said they would consider canceling service due to the price increase, with 6% saying they would definitely stop service.
The findings are the result of an online survey of 1,003 respondents, between Oct. 30 and Nov. 2, who claimed to be Netflix subscribers.
“People obviously aren’t happy with their price going up, but this isn’t the first time,” William Parker, founder of the KTCB website, wrote in the report.” Perhaps it’s do to this conditioning, or maybe the still relatively low price point in comparison to cable, but the majority of subscribers plan on sticking with Netflix post-price raise.”
The survey also found that 18% of Netflix subs share passwords with friends, and 26% share with relatives who are not immediate family. About 32% of subs said they may consider canceling Netflix due to the price increase; 14% may downgrade to a lower subscription tier. About 37% of respondents said price hikes are their biggest complaint with Netflix; while 28% are most annoyed with losing popular shows like “The Office.” Only 17% of respondents said Netflix canceling its original programming was their main complaint.
“It’s interesting to note that subscribers are still worked up over the impending loss of ‘The Office,’ and similarly popular shows,” Parker wrote. “Interestingly enough, the least common chosen answer to the question was Netflix’s original programming being canceled.”