Disbonating, customers of a streaming platform sometimes send a strong signal to reject service practices, for example price increases. It can also be a simple initiative on the personal budget in order to reduce the expenses of a household. Anyway, this practice may not be as damaging as one might think about Netflix and some of its competitors.
Netflix has something to see coming
In a new study, the Antenna analysis company wished to know the exact impact of unsubscribe on platforms. Experts analyzed nine streamers, including Netflix, Apple TV+, Disney+, Hulu and Max. They compared the data of their annual report “State of Subscriptions” By examining the American cancellations initiated in 2023, then compared them to the data of millions of weighted transactions to be representative of the United States population.
It turns out that six months after unsubscription, 50 % of the brand’s brand subscribers are already back. A year later, 61 % of those who had left returned to the fold. The trend is less marked in its competitors, but it is also present. On average, 34 % of American subscribers who canceled a subscription in 2023 returned to this service within six months, and 45 % returned in the year, specifies Business Insider.
Consumers seem to have more and more integrated into their habits to unsubscribe in hollow periods, before returning as soon as a content (series or film) interests them. Note also that Netflix can be satisfied with another data where it does much better than its rivals. Thus, its monthly unsubscription rate is only 2 %.
Netflix panics meters
This study is ultimately not so surprising if we refer to the latest figures made public by the entertainment giant. The streaming platform now has more than 300 million paying subscribers on a planetary scale and it added 19 million in the last quarter. This is a new record.
If we take into account additional members who take advantage of the accounts, its audience is more than 700 million people! This information is anything but a detail, while the firm is now fully turning to the advertising market.
Streaming platforms are undoubtedly aware that their customers will return one day or another. Moreover, they multiply price increases, as Netflix has just announced it, without worrying too much about displeasing them. To find out more about this, do not hesitate to go consult our analysis here.
