A new survey by Whip Media about the US streaming landscape determined consumers in the country are almost maxed out on services, with most of them not wanting to subscribe to any more. When asked which one they’d keep if they could only have one, Netflix won by a vast majority.
With dozens of new streaming platforms launched over the past two years, consumers in the US might be reaching their limit when it comes to how many services they’re willing to subscribe to.
According to a new survey by Whip Media, consumers in the US are “almost maxed out” on services, as 70% of respondents feel that there are too many subscription services on the market and (most of them 85% say) it’s getting too expensive.
In addition, 32% canceled an SVOD service in the past year. However, churn is spread out over all of the SVODs. 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 consumers prefer to pay for an ad-free service.
According to the survey, respondents are subscribed to an average of 4.7 services and plan to add only one more.
Netflix is 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%)
HBO Max v. Netflix: Which SVOD Leaves Customers More Satisfied?
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 are least satisfied with and least likely to keep.
What SVOD Customers Care Most About and Why That’s Good For HBO Max
According to the survey, 92% of respondents find library content very important/important. In today’s arms race for content, having library content is key to satisfying SVOD customers.
78% of respondents felt original content was very important/important.
The survey was fielded with 3,960 US TV Time app users from June 9-13, 2021. All results were weighted to balance with the US general population, by gender and age (13-54).