According to Whip Media's 2022 Streaming Satisfaction Report, Netflix is in last place in terms of value satisfaction.
Different viewers want different things from a streaming service, but it’s clear that Netflix is struggling to make the case for its exorbitantly high prices for many of its users.was the primary motivating factor for cancellations. 69% of former subscribers said that the price increases convinced them to cancel, according to the Whip Media survey. At $15.49 a month, Netflix has one of the most expensive standard plans in the industry.
That said, it’s worth noting that Netflix garnered a whopping 41% of the vote in 2021. That’s a 10 percentage point drop in one year. Netflix was once indispensable, but as other services have picked up their game, Netflix suddenly doesn’t look quite as vital. Finally, when it comes to overall satisfaction, Netflix has taken a tumble as well. Of the 2,460 U.S. users of Whip Media’s TV Time app that partook in the survey, 80% say they are satisfied or very satisfied with the service. That number is also down 10 points from 2021.
Meanwhile, HBO Max stays at the top with 94%, while Disney Plus and Hulu have overtaken Netflix in second and third place, respectively. Netflix is just a single percentage point above Paramount Plus, and less than 10 above Apple, Amazon, and Discovery. Netflix is still the biggest streaming service on the planet, but that title is clearly in jeopardy. If Netflix continues to raise its prices without giving subscribers better reasons to stay, they will continue to jump ship for the growing number of competitors.
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