Global market research platform Appinio has released research on the British population’s preferences on paying for streaming services. This comes as Netflix subscriber figures decrease for the second quarter this year, announcing that it has lost almost a million subscribers between April and July. It also comes at a time of economic turmoil, as inflation hits a 40-year high of 9.4%.
Appinio polled 1000 British respondents, discovering that over half (53%) would prefer not to watch commercials and ads on streaming platforms, with Gen-Zers being the most bothered (61%). That said, half of Brits (51%) would not be willing to pay an additional fee to avoid ads or commercials. As Netflix rolls out its plans for an ad-supported tier in early 2023, these findings emphasise a need to factor in the current economic climate when building out new payment models.
With less disposable income amid the cost-of-living crisis, 30% of Brits have cut back on their streaming services spending. The majority of Brits (46%) spend between £11 and £30 on streaming platforms in a typical month, with 14% spending over £50 per month. To further cut back on spending, 20% of Brits split the bill of a streaming service with someone else. However, this is less than the amount who share their streaming service accounts with other users, with two thirds of Brits (69%) allowing others to use theirs.
“The latest news from Netflix in today’s economic context puts users in a predicament when it comes to their spending, as watching TV is arguably a cheaper way to spend your spare time versus eating out, traveling, and other leisure activities,” said Andrea Villani, Managing Director at Appinio. “Our research found out that two thirds (67%) of Brits use streaming services almost daily. The cost-of-living crisis gives loyal streaming service subscribers a harder choice to make when it comes to choosing between paying more for a viewing experience that isn’t interrupted or better managing the financial situation at the price of ads.”
Appinio’s all-in-one platform for survey creation, data collection and interactive analysis provides companies such as Vodafone, Unilever and Gorillas with insights into consumers from 90+ markets.