More households in the UK are canceling video streaming subscriptions due to the rising cost of living, new research suggests.
According to the market research company Kantar, a total of 1.66 million services were stored in the second quarter of 2022.
The data showed that those under 24 were the age group most likely to cancel.
More than a third of cancellations were attributed to cost savings as people factored in higher prices and energy bills.
About 58% of households in England, Scotland and Wales now have at least one paid streaming service, it said.
According to Kantar data, 1.51 million services were canceled in the first three months of 2022.
Younger viewers are turning back to free services such as Tik Tok, BBC iPlayer, Channel 4’s All 4 and the ITV Hub.
Meanwhile, Netflix partnered with Microsoft last week to offer customers a cheaper subscription plan that shows ads.
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The streaming giant said its service will be an “addition” to its existing plans, which do not include ads, but has not yet revealed how much it intends to charge subscribers for the new service.
Netflix announced the move after reporting its first loss of subscribers in more than a decade and cutting hundreds of jobs earlier this year. Netflix said it expected to lose two million subscribers in the three months from April to June.
Amazon Prime showed the largest share of new subscriptions, up 37.9 percent, which Kantar said was due to its free trial period and free delivery option.
Kantar also said that people surveyed said they were happier with Disney+ than Netflix because of the quality of its shows.
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