Netflix not chill: 36% of UK consumers say they would cancel if the platform goes ad-funded

A proposed new funding model is set to herald some major changes at the OTT media streaming giant, according to a new report.

Netflix not chill: 36% of UK consumers say they would cancel if the platform goes ad-funded

If Netflix became ad-funded would you cancel your subscription? If so, you wouldn’t be alone; in fact that’s what over a third of UK consumers would do too. On the other side of the bitcoin, however, others might be attracted to subscribe in your place, and 34% of consumers said they would keep a Netflix subscription if it became ad-funded for a cheaper price. 

The study, by mobile ad platform LoopMe, polled almost 3000 UK consumers last month in the wake of announcements by Netflix’s CEO that ads will be introduced in the “next year or two”.

And it seems that the cost of living crisis is starting to bite, with nearly half (47%) listing “affordability” as their biggest reason for cancelling a streaming subscription. Indeed, nearly one in 10 (9%) have cancelled a subscription to a streaming service in the last month, with 55-64 year olds most likely to cancel a streaming subscription due to cost.

Interestingly, the survey also highlighted the prevalence of password sharing. Only 14% of consumers surveyed stated that they subscribe to video streaming services generally; yet one in two confirmed they currently use Netflix. This is something the streaming giant is actively trying to crack down on

According to Sarah Rew, LoopMe’s Senior Director of Global Marketing: “The data clearly shows password-sharing is rife for Netflix, supporting the platform’s own assertion that more than 100 million households globally are doing this. Considering the current cost-of-living-crisis, it comes as no surprise that people would find ways to save money where they can.”

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