One reason behind the shift may be related to price. About 52% of Gen Z respondents and 54% of millennials have canceled a paid streaming service in the last six months, compared to 43% of Boomers and Gen X.
About 36% of respondents surveyed said that SVOD content isn’t worth the price, with 48% saying they would cancel their favorite subscription if its cost increased by $5 per month. Gen Z and millennials surveyed pay an average of $63 and $67 per month, respectively, while Gen X and Boomers pay $62 and $53 per month.
About 52% of Gen Z respondents and 54% of millennials have canceled a paid streaming service in the last six months, compared to 43% of Boomers and Gen X.
That’s essentially no difference. Actually half of all target market has cancelled… something.
Also, $60 on average? That’s insane.
Isn’t that a pretty big difference? If nearly 50% of users in those age groups are cutting back that seems bad.
Speaking as one of the people who has cancelled a streaming service, I’m doing fine without and unlikely to resub.