Just under 20 million homes in the United Kingdom subscribe to at least one online video service, representing 68% of all households. The figures, from the Kantar Worldpanel Entertainment on Demand survey, found that 7% of households in the United Kingdom took out a new streaming subscription in the second quarter of 2023, up from 5% a year earlier. Discovery+, Disney+, and Apple TV+ saw the fastest growth in subscriber share over the quarter.
The research found that almost half of Netflix subscribers access the service daily and just over half of them turn to Netflix first when they are looking to find a new series or movie to watch.
However, only 3 out of 10 of the most enjoyed titles on online video services were Netflix releases. Households are also embracing a wider range of offerings from other streaming services, notably Apple TV+ and Disney+, which were once viewed as supplementary.
Nevertheless, only 4% of Netflix subscribers plan to cancel their subscription, up by 1% on the previous quarter.
In the United States, Kantar found that 116 million households had at least one online video service, representing 90% of households. 4% of households used a new online video service in the second quarter, with Amazon Prime Video, Apple TV+, and Discovery+ seeing the fastest growth in subscriber share.
The ongoing strike by both writers and actors is restricting new productions. Online video services may have to stretch out their release strategies to retain their subscribers, who are already facing the challenges of an increased cost of living.
Dominic Sunnebo of Kantar Worldpanel wrote: “Streaming services will face a delicate balance to keep viewers engaged and satisfied during this challenging period, without necessarily having a plethora of fresh content to entice them with. A shift in content release strategies and a focus on back catalogues will be crucial to weather the storm.”