25% of Netflix subscribers intend to cancel memberships this year, study shows

Since the start of this year, Netflix has gone through several trying times; the streaming platform is reeling from increasingly intense rivalry and, most importantly, from sizable cancellations preventing any development. The largest streaming platform in the world had to downsize staff a few months before to cut expenses. But the question that arises here at the moment is will things improve? 1.2 million Netflix subscribers left in the first two quarters of 2022. According to a study, one in four Netflix subscribers expects to terminate their memberships this year, despite the company's optimism that its new ad-supported service will bring in one million new subscribers.

In a survey conducted by Reviews to determine their streaming preferences in 2022, 1,000 Americans were polled.

The average American has four streaming platforms, according to the survey. Nearly four out of five (77%) Americans subscribe to Netflix, making it the most widely used streaming service. Additionally, 70% of respondents claim that Netflix is the service they use the most, followed by HBO Max (9.91%), Disney+ (6.18%), Peacock (4.25%), Hulu (3.86%), Apple TV+ (2.70%), and Paramount+ (2.70%).

Meanwhile, 25% of all Netflix subscribers intend to discontinue their memberships. Two-thirds of those who intend to stop using the streaming service cite rising fees as one of their reasons.

Another common Netflix consumer gripe is two-fold:

According to the survey, four of every five Americans are Netflix subscribers. However, 12.5% of those subscribers intend to cancel their subscriptions in the upcoming few months. According to the survey, each of the most well-known streaming services has the following percentage of subscribers, 78% of people subscribe to Netflix, whereas 46% to Disney+, 42% to HBO Max, 33% to Peacock, and 26% to Hulu, 22% of people subscribe to Apple TV+, 5% to Hulu, and 5% to Amazon Prime.

Last but not least, 70% of respondents use Netflix the most, outpacing all other streaming services by a 60% margin in terms of usage. HBO Max comes in as a distant second with a 10% proportion of responders, followed by Disney+ at 6%. There are fewer than 5% of alternative streaming services.