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Study Shows Streaming Still Rules as Consumers Cut Down on Subscriptions

Photo by Glenn Carstens via Unsplash

Study Shows Streaming Still Rules as Consumers Cut Down on Subscriptions

By Movieguide® Staff

According to a recent survey of 2,000 American adults, households plan to cut down on the number of streaming service subscriptions.

The survey conducted by StudyFinds reported that 57% of those surveyed plan to cut back on how much they spend on streaming content, with gas prices on the rise.

While streaming will remain the favored way to consume movies and TV, many people said they would stick to their favorites like Netflix and Amazon Prime.

Of those who said they would keep some of their streaming subscriptions, 45% said affordability would be the most compelling factor to stick with a given service. According to the survey, 44% said that the platform’s catalog of shows is most important to them, while 43% cited a friendly user interface.

However, streaming is here to stay. The survey reported that the average consumer plans to watch over 400 hours of content this year.

The number of consumers with streaming alternatives continues to decrease, with only 41% of those surveyed still paying for cable TV.

“While people are looking for ways to cut back on their streaming expenses, they still plan on watching many hours’ worth of content this year,” a spokesperson from Tubi said in a statement. “To capture the attention of and retain those viewers, streaming services need to focus on affordability, a wide selection of content, and a great user experience.”

“According to a quarter of respondents, the future of streaming will include free services with limited ads,” the spokesperson added. “Luckily, the future is already here — there are options currently available that offer a wide selection of content without needing to log in or sign up when you use it, and have minimal ad interruptions.”

One example is Amazon’s IMDb TV, which Amazon recently rebranded to Freevee. Movieguide® previously reported:

Amazon announced a name change for its free, ad-supported streaming service IMDb TV, which will be known as Amazon Freevee after April 27.

Amazon Freevee, which initially launched in 2019 as Freedive, was the free-to-watch option working alongside their membership service, Amazon Prime, to bring customers new streaming content.

According to Deadline, IMDb TV tripled its monthly users over the past two years.

“Over the past two years, we have seen tremendous growth for our AVOD service and are committed to bringing our audiences premium, free-to-consumer content,” Jennifer Salke, head of Amazon Studios, said. “We’re looking forward to building on this momentum with an increasing slate of inventive and broadly appealing Originals, and are excited to establish Freevee as the premier AVOD service with content audiences crave.”

Like Amazon Prime, Amazon Freevee plans to add exclusive original movies to its library.

“We have been delighted by the viewer response to our modern television network in a streaming landscape,” Lauren Anderson and Ryan Pirozzi of Freevee said. “With Freevee, our current and future viewers will discover a home that allows creative talent the freedom to tell impactful, entertaining, and inspiring stories; a service accessible to all and freed from time-slot restrictions and device availability; and a destination that provides customers with both new and familiar, escapist and engaging content—free of charge.”

As the battle for users in the streaming market rages on, Amazon hopes that Freevee and Prime continue to boost their monthly active users. Disney recently announced plans to incorporate a similar ad-based option for Disney+.