It seems the younger you are, the more likely you are to cancel an SVOD service you signed up for and then re-subscribe to it at a later date. This action now has a name – ‘churn and return’ according to consulting firm Deloitte.
Variety reports that according to the film’s latest digital trends study, 47% of millennials and 34% of Gen Z in the U.S. cancelled and then resubscribed to the same streaming video service within a one year period.
The older you are, the less likely you are to cancel with only 25% of Gen X, 6% of Boomers, and 3% of ‘Matures’ engaging in the same activity. The top reasons given for dropping an SVOD service was the price and finishing a specific show they signed up to watch.
Despite the relaxing pandemic restrictions in the United States, 84% of respondents say they’re still spending more time on online entertainment activities and less on in-person entertainment outside of their homes. In fact, 48% have increased their online entertainment usage from six months ago.
Finally, 65% of respondents say they are frequent gamers and play an average of around 12 hours per week.
