More video streaming subscribers are hitting pause

A growing number of people are strategically canceling their memberships to video streaming services, then re-upping at a later date, according to new data from subscription analytics provider Antenna. Boomerangs = important to both Australians and streamers.

• Over the year-long period ending August 2024, more than a third (34%) of all premium video streaming subscription signups came from customers rejoining a service they had canceled within the prior year, up from 29.8% in 2022.
• These subscription pausers also make up a similar percentage of overall cancellations. Streamers experienced a 5.2% cancellation rate in August – but that figure fell to 3.5% after factoring in re-subscribers.

Not all platforms are equal: Research shows certain streaming sites are more likely to attract resubscribers compared to others.

• The highest turnover rates can be found at newer, sports-heavy platforms like Paramount+ and Peacock, as well as services focused primarily on big-budget TV series, like MAX and Apple TV+, due to subscribers timing their subscriptions around major sporting events or show releases.
• On the other hand, platforms with household names and large libraries – such as Netflix and Disney+ – have a higher percentage of subscribers who have never paused their subscriptions.

👀 Looking ahead… Streaming services are increasingly turning to a combination of bundles, promotions, and lower-cost ad-supported plans to lure customers back faster, and help them stick around longer.