New data from TV consumers shows have reached a saturation point when it comes to the maximum number of TV/video services they own -- around seven services, according to a June survey from Hub Entertainment Research.
TV/video services is defined to include legacy TV (cable, satellite, telco); free and paid video platforms, and streaming apps, as well as any live and on-demand services.
Forty-three percent of those surveyed said they are “already there” in terms of the maximum number of services -- averaging 7.3 video platforms that they “want to use.” Another 35% say they are “not there yet,” saying 7.0 will be their limit, while 22% have “no maximum,” agreeing that 6.5 is the number.
At the same time, “churn” -- the act of canceling a video subscription -- is rising. This includes so-called “quick churning” where subscriptions can be dropped soon after signing on.
Hub says this is especially true for subscribers with four or more paid TV streaming subscriptions.
Fifty-five percent of those consumers said yes to the question "Have you ever canceled a new subscription within 6 months of signing up?’" The response for the quick decision was "I ran out of things to watch.:
Gen Z consumers are the quickest to churn -- 60% of those viewers under 25 say they have dropped a service soon after signing on.
Hub research was conducted with 1,602 U.S. consumers ages 16-74 who watch a minimum of one hour of TV per week.