Unsurprisingly, the world's two most popular streaming platforms proved to have the lowest rate of customers leaving in the first quarter, with cost-conscious subscribers identifying Netflix and Amazon's Prime Video as their 'must-have' services.
While there were 1.29 million new subscriptions to SVoD services in the UK in the first three months, this was outweighed by 1.51 million cancellations. The Kantar Worldpanel report found that 16.9 million UK households had at least one subscription service at the end of the first quarter. 'The evidence from these findings suggests that British households are now proactively looking for ways to save, and the subscription video-on-demand (SVoD) market is already seeing the effects of this.' 'With many streaming services having witnessed significant revenue growth during the height of Covid, this moment will be sobering,' said Dominic Sunnebo, the global insight director at Kantar Worldpanel, the publisher of the Entertainment on Demand report. While 58 per cent of households still retain at least one paid-for streaming service, the number that do so fell by 215,000 in the first quarter of this year.
WHO IS WINNING THE BATTLE FOR NEW SUBSCRIBERS IN BRITAIN? Service