Netflix, Disney+ and Prime scrapped in UK homes! Families forced to switch off streaming

We use your sign-up to provide content in ways you’ve consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. More info

Homes across the UK are ditching online streaming platforms in a bid to save money and budget for higher food and energy bills. That’s according to new data from the market research team at Kantar who say around 1.5 million subscriptions were cancelled in the first part of 2022 as the cost of living crisis begins to bite.

Streaming services such as Netflix, Prime Video, Sky’s NOW and Disney+ saw a boom in popularity at the start of the COVID pandemic as consumers looked for ways to stay entertained.

But things are now changing with Kantar saying the proportion of consumers planning to cancel their plans is now at its highest ever level with the firm saying households are “starting to seriously prioritise where and how their disposable income is spent”.

Churn rates, where customers join and then leave, have increased across all the major providers with Disney, Now TV, Discovery+ and BritBox all seeing significant jumps in cancellations.

Netflix and Amazon appear to be the platforms that consumers want to cling to with Kantar saying they are the “last to go when households are forced to prioritise spend.”

Encanto: Trailer for animated Disney musical

With most subscriptions costing around £8 per month it’s easy to see why consumers are cutting back. If you subscribed to Disney+, Netflix, Amazon and NOW you could face a bill of over £30 per month.

HOW MUCH IS YOUR STREAMING COSTING YOU?

Disney+ • Price per month £7.99

Amazon Prime • Price per month £7.99

Netflix • Price per month, from £6.99 (£15.99 for Premium access)

Apple TV+  • Price per month £4.99

Britbox  • Price per month £5.99

Sky’s NOW  • Price per month, from £9.99

“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 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.”

Some providers are already fighting back with Disney+ expected to launch a much cheaper way to watch its content thanks to the inclusion of adverts.

The advert-supported tier will be introduced in the United States before the end of this year, before rolling out internationally next year.

“Expanding access to Disney+ to a broader audience at a lower price point is a win for everyone – consumers, advertisers, and our storytellers,” said Kareem Daniel, Chairman, Disney Media and Entertainment Distribution. “More consumers will be able to access our amazing content. Advertisers will be able to reach a wider audience, and our storytellers will be able to share their incredible work with more fans and families.”

Source: Read Full Article