Reported 12 months ago
Streaming media subscriptions are now essential in American consumer life, with research showing that over 29 million, or about a quarter of American streaming service subscribers, have canceled three or more subscriptions in the past two years. A trend of 'nomadic subscribers' is emerging, where people cancel and resubscribe services frequently. Consumers prioritize price over loyalty, leading them to cancel if they don't find the service valuable. Despite the increase in such subscribers causing platforms to cut program investments, Netflix stands out with a low unsubscription rate compared to its competitors, attributed to its diverse and personalized content recommendations. As the phenomenon grows, strategies like bundled subscriptions and enhanced features are being used to retain subscribers and balance the challenges between streaming platforms and nomadic subscribers.
Source: YAHOO