With nearly all major subscription services hiking monthly rates as they head into 2023, cancellations may rise as consumers decide which platforms are keepers.
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Ian Greenblatt, the managing director of technology, media and telecom intelligence at J.D. Power, says the streamers that will be “most resistant to churn are those that have already done so.” “Apple TV+ is the smallest and [least] watched with a smaller program library, thus the most exposed to churn,” Enders Analysis analyst François Godard notes. In contrast, the launch of Netflix’s new ad-supported subscription tier is poised to be a “handy option for consumers seeking cuts in spending,” he says, especially for users who otherwise might have canceled their Netflix subscription because of its higher price point .
“Our history shows that when we have taken price increases across our streaming businesses that we don’t meaningfully increase churn or cancellations,” Disney CEO Bob Chapek also noted during the earnings call. “We believe we have still got some headroom there.”
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