More men than women cancelled their Netflix subscription last quarter in the Nordics. Value for money seems to be a driving factor, according to survey data published by YouGov. Netflix recently confirmed that it is introducing a less pricy, and advertising supported subscription as an alternative to its traditionally ads free version.
The company in April reported that it for the first time in decade had lost subscribers. Between April and July, the company lost almost another million subscribers. However, that was less than the management had feared. Main explanation is estimated to be stiffer competition and inflation that makes household cut down on spending.
Management warned that the company could be loosing even more subscribers in the following quarter. Markets are eager to learn more from the next Netflix report.
The streaming market in the Nordics is fierce, with national video streaming services and a range of international streaming giants. The YouGov data shows that one-eighth of the population in the \nordics have cancelled their Netflix subscription.
16% in Finland said they had cancelled; 15% in Sweden; 12% in Denmark and 11% in Norway.
More men than women have cancelled their subscriptions. More men than women have a subscription but men are still overrepresented among those who have cancelled: 56% men and 44% women.
24% of those who cancelled are 60+; 21% are 30 to 39 years old; 20% are 18 to 29; 19% are 40 to 49; 16% are 50 to 59 years old.
The lower-income group (27%) is overrepresented compared to the low-income group among Netflix’s current customer (22%).
Only 21% of those who have left Netflix think the subscription is good value for money while 55% of current customers believe that the streaming service offers good value. Fewest of the former customers in Sweden (15%) and Norway (17%) believe that Netflix offers a good value for money.
When asking Netflix’s former customers which streaming services they would consider watching, 55% mentioned public service broadcaster DRTV that offers its service for free for the customer as its operation is paid via media tax.