• by Karlene Lukovitz  @KLmarketdaily, January 3, 2024

The average monthly U.S. subscriber churn rate for major premium subscription video on demand/SVOD services was 6.3% in November 2023 — up from 5.1% in November 2022, according to subscription analytics company Antenna.

In addition, about one quarter of U.S. subscribers are “serial churners” who have canceled at least three of the major streaming services over the past two years. That’s up from 15% two years ago, according to the firm’s latest data, first published by The Wall Street Journal.

Antenna tracks engagement behavior for subscribers to premium services Apple TV+, Discovery+, Disney+, Hulu, Max, Netflix, Paramount+, Peacock, and Starz.

Higher churn is being driven by consumers’ growing array of choices and subscription price hikes implemented as premium SVODs struggle to achieve profitability. Higher churn undermines profitability in a subscription-only model, but streamers are shifting emphasis to ad-supported models, as well as adding other revenue sources, such as licensing content to competitors and promoting ecommerce capabilities.

Antenna also reports that among premium SVODs, one in four cancelers typically resubscribe to a service within four months, one in three within seven months, and one in two within two years.