Netflix already lost 1.2 million subscribers in the first two quarters of 2022. While the company hopes to add a million new users with its new ad-supported tier, a survey shows that 1 in 4 Netflix users plan to cancel their subscriptions this year . Here’s what this could mean for other streaming services, such as Apple TV+.
Reviews surveyed 1,000 Americans to gauge their streaming habits in 2022. According to the report, the average American subscribes to four streaming platforms.
Netflix remains the most popular streaming service with nearly 4 in 5 (77%) Americans currently subscribing to the platform. Additionally, 70% say they use Netflix the most, followed by:
- HBO Max: 9.91%;
- Disney+: 6.18%;
- Peacock: 4.25%;
- Hulu: 3.86%;
- Apple TV+: 2.70%;
- Paramount+: 2.70%.
That said, 25% of all Netflix subscribers plan to cancel their subscriptions. Of those planning to leave the streaming service, two-thirds say rising costs are one of the reasons.
According to the study, Netflix has the highest average plan price among the eight most popular streaming services in the United States. The other major complaint from Netflix users is twofold:
- 1 in 3 respondents said Netflix no longer has the shows they want to watch;
- 30% said they use other streaming services more.
Last but not least, the study shows the percentage of subscribers each of the most popular streaming services has:
- 78% subscribe to Netflix;
- 46% are Disney+ subscribers;
- 42% subscribe to HBO Max;
- 33% are Peacock subscribers;
- 26% subscribe to Hulu;
- 22% are Apple TV+ subscribers;
- 5% subscribe to Hulu;
- 5% are Amazon Prime subscribers.
Although Netflix is worried about losing more subscribers, it is still the most popular streaming service with a 70% share of the total subscriber market. For further comparison, HBO Max has a 10% share of this market.
For Apple TV+, there is always room for growth. Apple bundles this streaming service with all Apple One subscription options. Plus, its award-winning catalog is only $4.99, which is becoming more enticing than ever.
You can check out the full survey here.
What streaming services do you subscribe to? Share your thoughts in the comments section below.
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