Price rises fail to dampen Brits’ streaming enthusiasm
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Editor
| 24 March 2021
Even above-inflation price rises of up to 33% are failing to curb British consumers’ enthusiasm for film and TV streaming services, with viewers, increasingly bouncing between services, using free trials and one-month subscriptions to binge-watch without blowing the budget says research by Priestley.
Netflix English Multiple Device 17July2020
In its study the analyst polled in December 2020 500 consumers aged between 18 39 in the UK, who use one or more streaming services.

The study found that nearly two-thirds (65%) of Brits under 40 signed up to a new streaming service in the last 24 months, with high profile launches including Disney+, Apple TV+, and discovery+, while a growing number used streaming services catering to niche interests as diverse as anime, opera, and LGBTQ+ cinema.

As more on-demand outlets become available, users were found to be moving between services with most under-40s (73%) regularly using two to three different services and over half (56%) re-subscribing to services after cancelling. The majority of subscribers indicated that they were comfortable spending a total of Ł11-20 per month (49%) on film and TV streaming services, while just 5% were willing to spend more than Ł30 per month.

As prices have risen, almost three-quarters of those under-40s have cut back on streaming services to save money, while one in two (51%) have used a free trial to binge-watch the latest films and TV, before ending the subscription.

The research also found that 28% of under-40s would pay extra to watch new and original films and TV that aren’t available elsewhere. A similar number would pay to watch offline (27%) or in high-definition formats like Ultra HD or 4K (27%), while 23% would pay to watch new releases before anyone else. But what matters to audiences with niche interests can vary significantly from the general public.

“Inflation-busting price rises are failing to dampen Brits’ enthusiasm for streaming films and TV,” said Priestley founder Matt Bell-Watson commenting on the research. “Consumers are increasingly bouncing between services, using free trials and one-month subscriptions to binge-watch films and TV, without blowing the budget. Yet, despite watching the pennies, many Brits are willing to splurge on additional perks and VIP benefits. The challenge for streaming services is understanding what audiences value most and are willing to pay for, while competing for consumer attention in an increasingly crowded and competitive market.”