The number of VOD-enabled households subscribing to at least one video streaming service in Spain has fallen to 11.9 million, according to Kantar Worldpanel.
The 292,000 loss means 64% held a subscription between January and March 2023.
The move by Netflix to remove households viewing the service on someone else’s tab had an immediate effect with the loss of over 1 million users in Spain.
Kantar says there is no strong demographic skew to those who cancelled and in a worrying sign for the next quarter, 10% of remaining Netflix subscribers say they plan to cancel their plan in Q2 2023, well above the average seen in previous quarters.
Dominic Sunnebo, global insight director at Kantar’s Worldpanel Division comments: “There are of course inherent risks with clamping down on password sharing, particularly when back in 2017 Netflix was seen to be actively encouraging it. Some users were expected to be lost in the process but losing over 1 million users in a little over a month has major implications for Netflix and whether it decides to continue with its crackdown globally. Monitoring the next few quarters to see how many of these consumers decide to re-subscribe will be vital to Netflix strategy in this space.”
Sky ShowTime had a strong launch capturing 1 in 3 new adds in the first quarter of 2023. The Last of Us on HBO Max was the top title over the quarter, followed by Spanish series La chica de nieve on Netflix.
Despite the launch of Sky Showtime, Prime Video just held onto its #1 spot in new subscriber adds, with 34% share of all new subscribers.
