While streaming continues to grow, subscribers are still switching between premium services to watch their favorite shows, rather than committing to one or all of them.
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According to Samba TV’s latest State of Viewership Report, US households watched a record amount of streaming content in the first half of the year, a 40% increase compared to the same period in 2023. However, the same report also states that approximately 44% of subscribers are only willing to watch one or two platforms every six months.
Subscription video on demand (SVOD) platforms continue to add subscribers each quarter, but churn has also increased each quarter. What’s more, the services added only about 4.8 million net subscribers in the first quarter of 2024, down more than 3 million from the previous quarter.
Samba’s data shows that viewers are typically interested in a specific piece of content and choose to leave the platform after they’ve finished watching. The one exception to this is Netflix, which isn’t surprising since the streamer has proven very effective at using its algorithm to attract users to new content and keep them engaged on the platform. It’s a tool that many of the newer platforms have yet to perfect.
