"Cutting Costs on Streaming: The Rise of Serial Subscription Cancelers"
Recent data indicates a rise in the churn rate for major streaming services in the U.S., with the monthly churn rate increasing from 5.1% in November 2022 to 6.3% in November 2023. A growing number of consumers, referred to as "serial churners," are canceling and resubscribing to services as they seek value for money. These users often cancel three or more services within two years but tend to resubscribe within months. Streaming companies are expected to offer more bundle deals and promotions in response to this trend. Despite the challenges, some companies like Netflix are reaching profitability, highlighting the complex nature of the streaming business.