Young people tend to limit the subscription to streaming services to the period of broadcasting of single TV series and to share accounts. Here the data provided by Axios.
My favorite series is over, I do not renew the subscription to the streaming platform. This is how more and more people are reasoning. This creates big headaches for streaming companies. Including the seven big names in the industry: Netflix, Amazon, AT&T, Disney +, Apple and Hulu. With the release of the last episode of the eighth season of Game of Thrones, HBO is also involved in the phenomenon. A new Axios/Harris poll found that that 16% of HBO subscribers say they planned to cancel their subscriptions now that the show is over.
Most people only plan to hang onto subscription services for less than six months upon initially signing up, according to the most recent Video Entertainment Survey conducted by Frank N. Magid and Associates. That number dips lower for older age groups. In detail, half of the Generation Z respondents from the survey said they intend to cancel their account after watching a specific or exclusive video at sign-up. For Millennials that number goes down to 45%. For Generation X it’s 36%. And for Boomers it’s only 32%.
So, youngers are champions in this form of hit-and-run consumption. In addition they have the habit of using the same subscription for a streaming service in a group. In particular, 26% of millennials uses the password from someone else’s account to watch shows on a streaming TV service. Even more than millennials, those in the 18-to-21 age bracket like to stream their TV shows with the password of someone paying for the service, with 27% of the group doing so. high rate of streaming TV password sharing among millennials is indicative of what she called the “shared economy. The Frank N. Magid and Associates’ report stated that high rate of streaming TV password sharing among millennials is indicative of what it is called the “shared economy”.