Report: SVOD Subscriber Churn Up in the Past Six Months, With Netflix Most Coveted, Canceled Service

Nearly 40% of subscription streaming VOD subscribers canceled a service in the past six months, while another 55% moved to a new platform, according to new data from Reviews.org. The internal research was based on 1,000 respondents surveyed in February, who were asked about their activity on streaming service subscriptions.

Of the respondents who canceled, 44% cited ongoing price hikes as the primary reason for dropping service, while another 37% cited lack of use. The average respondent spent from $20 to $30 monthly on SVOD services.

“We found that more than one in two of our respondents canceled because they don’t use the platform or the show they want to watch isn’t there anymore,” Alex Kerai, consumer trends analyst, wrote in the report. “Basically, they are contributing to subscriber churn and only staying subscribed during the 12 weeks ‘Ted Lasso’ is airing [on Apple TV+].”

With the top six SVOD services upping their monthly fees an average of 25% in the past six months, the report found that combined cost contributed to either canceling or looking for an alternative cheaper service.

Notably, respondents overwhelmingly cited Netflix as the SVOD service they would least cancel, with 43% of respondents saying they couldn’t live without it. On the flipside, the SVOD pioneer was also the most canceled service among respondents, at 21%, underscoring the platform’s size and popularity.

Another 20% of respondents said they canceled Hulu, 14% canceled Peacock, and 13% canceled HBO Max.

Two out of five respondents admitted to sharing passwords with non-subscribers. Of those, more than 85% of respondents said they share their Netflix account with other people. Another 51% of respondents share their password for Hulu, 44% Amazon Prime Video, 36% HBO Max, 26% Peacock, and 25% or less Paramount+ and Apple TV+.

The report found that Netflix crackdown this year on password sharing could have a material impact on subscriptions and revenue.

“The crackdown may actually hurt Netflix’s business model,” Kerai wrote.

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Movies Anywhere Allowing Members to Share Titles

Movies Anywhere has beta-launched a new platform called “Screen Pass” that enables registered users the ability to share up to three movies monthly with friends and family for free.

The platform, which acts as a middleman for digital services iTunes, Google Play, Prime Video, Apple TV, Vudu, FandangoNow, Verizon and Microsoft Movies & TV, includes movies from four major studios: Warner Bros., Sony Pictures, Universal Pictures and Disney/Fox.

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Screen Pass gives a friend or family member (who must registered) seven days to accept the invitation, and another 14 days to watch the title. Once started, the user has 72 hours to finish watching the movie. A title can be shared un-limited times.

The beta launch, which began March 17, features about 6,000 movies that can be shared.

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