According to a Horowitz Research study, the average monthly pricing for consumer streaming platforms has increased by 22% over the past three years. Consequently, 52% of streamers have canceled or dropped at least one streaming service within the past year. The primary reasons for this "churn" include price hikes and a perceived lack of value for the cost. Additionally, approximately 30% of those who canceled cited the inability to share password and login information as a determining factor.
Looking ahead, 23% of consumers plan to cancel one or more of their streamers in the coming months, which is an increase from 19% in 2023. Horowitz reports that the average total monthly price for all consumer streaming platforms is now $60.60 in 2024, up from $49.33 in 2021³⁸.
Interestingly, to mitigate entertainment costs, 59% of streaming consumers are now more open to subscribing to additional streamers with advertising options. For instance, nearly one in three Netflix streamers now opt for the $6.99/month advertising option³⁸. It seems the streaming landscape is evolving, and viewers are carefully considering their options!
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