The number of households in Great Britain that are subscribing to a streaming service fell slightly in the third quarter.
Between July and September 2022 the number of VOD-enabled households that subscribed to at least one video streaming service fell to 16.18 million, down 234,000, quarter on quarter.
The total number of SVOD subscriptions rose to 28.2 million, a rise of 108,000 compared to the previous quarter. One factor in this could be the arrival of Paramount+. A successful launch has seen the new streamer overtake both Discovery+ and Apple TV+. Paramount+ will have been helped by its bundling with Sky Cinema, allowing several million subscribers to enjoy the service for free. 95% of Paramount+ subscribers were already subscribing to one or more subscription streaming services.
Commenting on the research, Dominic Sunnebo, Global Insight Director, Kantar, Worldpanel Division remarks: “There are a number of dynamics at play in the market, such as the cost of living crisis and subsequent ‘cord-cutting’, as well as a degree of ‘content fatigue’, experienced by some VoD viewers, which has resulted in an overall drop in household SVoD penetration. However, the launch of a new streaming service into the UK market has been relatively successful, suggesting that fresh content is still a key attraction for British viewers.”
Netflix accounted for 1 in 4 of those churning in the last quarter, but significantly 45% of Netflix churners left the market altogether. Overall, 38% of Netflix customers only have a Netflix streaming subscription.
Among the established services it was Disney who came out of the quarter as the fastest-growing service major service in the third quarter.
Note: Great Britain does not include Northern Ireland.
