Netflix's current woes have been highlighted by a survey suggesting that an increasing number of its long-term subscribers are ditching the streaming service.
Netflix’s current woes have been highlighted by recently published data that suggests an increasing number of its long-term subscribers are ditching the streaming service.
Antenna, which arrives at its figures after studying data from a group of five million Americans who anonymously share their streaming subscriptions, also said its survey revealed that new subscribers accounted for 60% of cancellations in the first quarter of 2022, down 4% over the previous three-month period, suggesting it’s making some headway in its bid to retain new customers.
Customers could be hitting the “cancel” button for a number of reasons, but a decision to rein in spending in the face of rising households bills caused by soaring inflation is likely to be a major factor. Such cutbacks will in some cases involve customers ditching several streaming services in favor of just one or two, and with rivals such as Disney+, Amazon Prime, Apple TV+, HBO Max, and Hulu, among others, the competition is tight.
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