The number of UK households that subscribe to at least one streaming service shrank in the first quarter of 2022, says research firm Kantar in a new study.
A total 1.51 million subscriptions to SVOD services were cancelled in the period — up from 1.04 million in the previous quarter and from 1.2 million a year ago.
More than half a million cancellations were attributed to money saving. Kantar says that younger households were particularly hard hit by the cost-of-living crisis in Great Britain where inflation hit 6% in the first quater.
For the three months ended March 31, streaming service penetration rate for GenZ households fell slightly for the first time, down to 74.6% compared to 75.4% in Q1 2020 and a peak of 75.8% in Q4 2021.
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