Netflix Opt Out Customers Increasingly Include Long-Term Subscribers

Netflix lost 200,000 subscribers last quarter and possibly two million in the current period, according to a note to shareholders released last month. A new study shows that the number of longtime subscribers leaving the streaming service has risen over the past few years.

Data provided by research firm Antenna to The Information shows that people who have been a subscriber for more than three years accounted for just 5% of total cancellations in early 2022, up from 13% in the first quarter of 2022.

Rookies, meanwhile, accounted for only 60% of cancellations in the quarter, compared to 64% in the fourth quarter. Also in the first quarter, total cancellations flew to 3.6 million, compared to about 2.5 million in each of the previous five quarters. Antenna says it pulls data from a panel of 5 million Americans who anonymously contribute their streaming subscriptions.

While Netflix is ​​losing ground, the streaming market as a whole is gaining more subscribers, and Antenna data suggests a link between rising prices and the loss of Netflix subscribers.

“Consumers vote with their wallets every month and there are simply more viable candidates on the ballot now,” said Brendan Brady, head of media and entertainment at Antenna. Also, since many entertainment companies such as NBCUniversal and Disney have taken their shows off Netflix and put them on their own services, Netflix has had to rely more on its originals, whether they were successful or not, he said.

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The data shows that during the first four months of 2022, Paramount+, Peacock and Disney+ were the most popular options among new subscribers. One reason is that Paramount+ and Peacock are the two most affordable services.

While the Antenna poll doesn’t mention Apple TV+, Apple’s streaming service is also one of the most affordable options. Although it has a small catalog, it offers high quality content. Revealed last week that the company is promoting some of its shows at The Grove store in Los Angeles, which you can read about here.