The number of homes in the United Kingdom with an online video subscription fell by 488,000 in the second quarter of 2022, as consumers struggle with the increasing cost of living. 1.66 million online video subscriptions were cancelled, adding to the loss of 1.51 million the previous quarter. The decline is driven by an increase in those cancelling services and a decrease in households taking out new subscriptions.
The latest Entertainment on Demand data from Kantar shows that the number of homes in the United Kingdom subscribing to at least one online video services fell to 16.42 million, representing 56% of households, down from 57% a year previously.
The greatest drop was among households including people aged under 24, who continue to use free services. The number one reason for the planned cancellation of services was to save money. Only half of those surveyed agreed that they get good value from money from their spend on online video subscriptions.
Amazon Prime Video again saw the largest number of new subscriptions, just ahead of Disney+, which overtook Netflix in terms of satisfaction and net promoter score for customer advocacy.
Netflix had the lowest proportion of new subscriptions seen so far at 4.5%, as competition increases from other services.
Apple TV+ accounted for one in ten new online video subscriptions, with high levels of satisfaction among subscribers.
NOW, powered by Sky, accounted for just over 11% of new subscriptions, while BritBox picked up just under 6%, both similar to the previous quarter.