Nielsen has released an interesting streaming service-focused edition of its Total Audience Report, and it contains several metrics that shed a light on the habits of streaming service providers and the people who subscribe to them:
The most interesting reveal: When people choose to cancel a streaming subscription, 42% of them do it for the exact same reason: “I wasn’t using it enough to make the cost worth it.” In other words, most people cancel it because they just don’t get enough use out of it and the price of the service isn’t low enough to continue to pay for the nonuse.
The reasoning makes sense. After all, there are dozens of services and media competing for our valuable eyeball time–why keep paying for a service that doesn’t attract our attention enough?
The No. 3 reason people cited for why they cancel a streaming service is also telling, and it relates to the first: “I had watched all of the content I was interested in.”
In other words, streaming content is king, and when there’s not enough content to keep our eyeballs glued and we’ve already watched all the content we’re interested in, why should we continue to keep the service?
The statistics highlight a growing cost concern for major streaming providers like Netflix and Disney Plus. If they want to keep customers from hitting the cancel button, they will have to continue ramping up their catalogues and replenishing their services with fresh shows and movies. Or to put it another way: Baby Yoda can only go so far.
You can check out the full report here.