NOW TV
Use attributes for filter ! | |
Availability | Internet |
---|---|
Founded | July 17 |
2012 | |
Parent organizations | Sky UK |
Sky Ireland | |
Sky Italia | |
Date of Reg. | |
Date of Upd. | |
ID | 962834 |
About NOW TV
Now TV is a division of pan-European telecommunications company Sky Limited with operations in the United Kingdom, Ireland, and Italy. It offers a subscription-based internet television and video-on-demand service.
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Households cancel streaming services to cut costs, report says
The Rising cost of living in Britain has led to households cancelling their streaming subscriptions, new research suggests.
A total of 1. 51 million services were canned in The First three months of 2022, Market Research firm Kantar said.
It said More Than half A Million cancellations were attributed to " money saving" with households budgeting for higher prices and energy bills instead.
About 58% of Britain's homes now have at least one paid streaming service.
The Height of coronavirus pandemic and lockdowns saw surges in subscriptions for platforms such as Netflix, Disney+ and Amazon Prime.
But researchers said the proportion of consumers planning to cancel subscriptions stating the primary reason as " wanting to save money" had risen to its highest ever level at 38%, up from 29% in final three months of 2021.
Kantar said households were " starting to seriously prioritise where and how their disposable income is spent".
Dominic Sunnebo, global insight director at Kantar's Worldpanel Division, added that the latest research would be " sobering" for the industry.
" The Evidence from these findings suggests that British households are now proactively looking for ways to save, " He Said .
Researchers said Amazon Prime's thriller series Reacher was the most-watched title in The First three months of 2022, followed by Ozark and Inventing Anna on Netflix.
They said that although " churn" rates increased almost across all streaming platforms, there was a " clear difference" in The Number of cancellations seen outside of Netflix and Amazon.
" Netflix and Amazon can be seen to be hygiene subscriptions for Brits; The Last to go when households are forced to prioritise spend, " Kantar said.
" Disney, Now Tv , Discovery+ and BritBox all saw significant jumps in churn rates quarter-on-quarter. "
Besides mounting cancellations, the early months of 2022 saw the lowest ever rate of new subscribers, Kantar said.
In January, Netflix said it added 18. 2 million members Last Year - roughly half The Number who subscribed in 2020.
Investors had hoped that pace would start to Pick Up again, which sent The Company 's share price down almost 20% at The Time .
Ads incoming?The Company admitted that new competition from the likes of Disney, Apple, Amazon and HBO was starting to have an impact.
Kantar said advertising was " an obvious route for driving revenue growth, but one Netflix has historically strictly shied away from".
" However, Netflix chief financial officer Spencer Neumann added fuel to The Fire by saying in March 'it's not like we have religion against advertising', " its Entertainment on Demand study said.
" Data across Great Britain shows Netflix subscribers' attitudes to advertising are softening, with 44% now stating they don't mind seeing on streaming services if it makes them cheaper, a significant rise from 38% at the same point in 2021. "
Source of news: bbc.com