A recent survey found that while streaming giant Netflix has already lost 1.2 million subscribers in the first two quarters of 2022, 25 percent of current subscribers plan to cancel their subscriptions this year.
9to5Mac reports that while Netflix has lost 1.2 million subscribers in the first two quarters of 2022, the company still hopes to add one million new users to the platform with its new ad-supported tier. But a recent survey reveals that 1 in 4 Netflix users plan to cancel their subscriptions this year.
Reed Hastings, left, CEO of Netflix, poses with Ted Sarandos, Chief Content Officer of Netflix. (AP Photo/Ahn Young-joon)
Reviews.org surveyed 1,000 American streaming customers to determine their streaming habits in 2022 and found that the average American is subscribed to four different streaming platforms. Netflix remains the most popular with nearly 4 out of 5 (77%) of Americans surveyed currently subscribed to the platform. 70 percent also said that they use Netflix more than other streaming services, an overwhelming advantage with second place going to HBO Max with just 9.91% of respondents saying it is their top service.
Of all Netflix subscribers surveyed, 25 percent said they plan to cancel their subscriptions. Two-thirds of those that plan to leave stated that the streaming giant’s increasing cost is one of the reasons.
Netflix appears to have the highest average plan cost among the eight most popular streaming services in the U.S. Other reasons for cancelation include roughly one-third of respondents saying that the platform no longer has the shows they watch and 30 percent saying that they use other streaming services more.
Almost 20 percent of those who plan to cut their service say that general inflation and the increasing cost of everyday life are also contributing factors.
Read more at 9to5Mac here.
Lucas Nolan is a reporter for Breitbart News covering issues of free speech and online censorship. Follow him on Twitter @LucasNolan