Happy Tuesday War & Peaceniks! Let’s burn and churn!
Antenna just published new data on SVOD Churn, further demonstrating that Serial Churners are today's Channel Changers.
In 2023, 33% of all new sign ups for premium SVOD services are Serial Churners - subscribers who actively manage their SVOD subscriptions by signing up, canceling and then potentially rejoining the same services later. That's a 230% increase in share of Serial Churners in new monthly subs from 2019 - a 14% increase from last year.
That's not to say these Serial Churners are lost forever. One-third of these constant cancellers come back to the SVOD they left within 12 months. However, even that soft loyalty diminishes over time.
"Users who subscribed to a Premium SVOD service for the first time had a 12 month survival rate of 45%. That survival rate dropped -9pts to 36% on their second lifetime, and -19pts to 26% for users on their third or more lifetime."
This is the new normal of the User Centric Era, and points to one of the hard truths subscription publishers will face moving ahead: Most US subscribers will have three-ish SVODs at any give time - just not the same three all of the time.
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