Survey: Age-driven streaming cancel culture in UK
November 9, 2023
It’s no secret that age plays a huge role in how subscribers react to changes. The younger demographic, particularly those between 18-24, showed a willingness to cancel at a rate of 75.68 per cent for certain streaming services according to a survey conducted by Trusted Reviews. As we go up the age ladder, the willingness to drop subscriptions due to ads or price hikes only grows. In fact, a huge 91.82 per cent of those aged 65 and above are digging their heels in, saying no to both.
Paramount+ and Apple TV+ have notably higher cancellation rates of 84 per cent and 72 per cent, respectively, suggesting that they may need to focus on user retention strategies and content offerings to reduce churn.
The survey also found that 82.69 per cent of users, regardless of age, are not willing to cough up extra cash for an ad-free experience. But, and here’s the twist, when the idea of ads entering their favourite platforms is on the table, the willingness to cancel shoots up. In Greater London, for instance, 78.06 per cent are saying no.
Nearly half of those surveyed (47.54 per cent) are spending less than £15 each month on streaming. It’s a clear sign that subscribers are budget-conscious, and it highlights the potential storm that platforms could face if they decide to hike prices.
Over half (57.54 per cent) of those surveyed said the cost of the service was the primary reason they cancelled, showing that subscribers are super sensitive to price changes. Close behind, 32.89 per ent cited a lack of exciting content as their top grievance. This just underlines how vital it is for streaming platforms to maintain a diverse and appealing content library. Here’s the kicker, suggests Trusted Reviews: 9.02 per cent of respondents decided to jump ship and switch to another streaming service altogether, while a tiny 0.55 per cent had other unspecified reasons for their cancellation decisions.
In conclusion, Trusted Reviews said: “These findings send a strong message to streaming platforms as they navigate a fiercely competitive landscape. They need to tread carefully when thinking about price changes or introducing advertisements, especially with the strong reactions we’ve seen from users, especially the older crowd. Any missteps could lead to mass subscription cancellations. As the battle in the streaming industry heats up, keeping user trust and satisfaction front and centre is the name of the game.”