While the Disney+ launch didn’t initially affect Netflix, and the streaming giant claims to enjoy the competition, the over-saturation of new and upcoming streaming services — NBC’s Peacock, Apple TV+, and HBO Max, just to name a few — might be deterring Netflix subscribers. A new survey offers some insight into why former Netflix users recently cancelled their service altogether and the reasons make a lot of sense.
In a new survey, 42% of subscribers say they left Netflix due to lack of content, while 49% claimed they cancelled because of rising prices. Meanwhile, 40% left Netflix for other streaming services, while only 22% cancelled over the lack of movies and only 14% say the left because their favorite shows were cancelled.
Honestly, the price hike back in May was pretty big for many, so 49% of subscribers deciding to leave after that comes at no surprise. After all, many subscribers went from paying $10.99 to $12.99 a month, which is a big jump, at least percentage-wise. I was paying $9.99 for several years, so the increase was off-putting, personally. For premium 4K streaming subscribers, the price hike was even bigger, going from $13.99 to $15.99.
Additionally, the lack of content, such as Netflix losing Disney and Marvel properties to Disney+, likely played a major role and it might be that subscribers didn’t want to be paying for several services at once. (Hey, it gets expensive!) The question then becomes about which service has more to offer and how much does it cost? When Disney+ and Apple TV+ are being offered at $6.99 and $4.99 a month, respectively, Netflix subscribers have had to make tough decisions.
The survey, which was conducted by Kill the Cable Bill (via Amazon Mechanical Turk), also revealed that 63% of subscribers who cancelled their Netflix service this year had been long-time subscribers and 58% of those surveyed were unsure whether they’d ever come back. The survey was outsourced and sampled around 1,000 subscribers who cancelled their Netflix accounts after April 1, 2019.
When Netflix originally launched, it was the only one of its kind. Though the library wasn’t as large as it is now, the streaming service offered a new way to watch movies and TV shows while in the comfort of your own home. Now, with several new options to watch beloved series and original content, and fan favorite shows like The Office and Friends leaving Netflix soon, the streaming giant might have to start worrying about its strategy.
All that said, Netflix isn’t failing. The company still has 60 million subscribers and is doing well globally, with over 158 million subscribers in 190 countries. Plus, only 7% of free trial subscribers cancelled, so the subscription streaming service must be doing something right for new customers.
Though Netflix has recently lost the rights to a lot of movies and shows, it still has a lot to offer in terms of original content. In fact, over 64 million viewers watched Stranger Things over the last year. Additionally, Netflix remains a major competitor, which is why Disney moved to ban Netflix ads from its own networks.
Still, there’s no telling what the future will bring for Netflix. In the meantime, if you are still a happy subscriber, be sure to check out all the new TV shows premiering on Netflix for the rest of the year.