British Households Cancelled More Than 1.5 Million Streaming Subscriptions

British households have cancelled their streaming subscriptions in record numbers amid the cost of living crisis.

More than 1.5 million British households cancelled accounts for services such as Disney+, Netflix and Amazon Prime during the first three months of the year, new figures show, as the cost of living crisis continues to bite.

The previous lockdowns had led to more people paying for streaming services.

Several streaming providers have raised prices in markets including the UK, in part to compensate for rising costs of labour and facilities that have made TV and film production more expensive.  

But now that things are back to normal, more than half a million of these cancellations were blamed on 'money saving'.

Families are looking for ways to curb non-essential spending to cope with rising energy, clothing and food prices, with more than half of the terminations attributed to 'money saving'.

The world's two most popular streaming platforms proved to have the lowest rate of customers leaving in the first quarter, with cost-conscious subscribers identifying Netflix and Amazon's Prime Video as their 'must-have' services.

Here are the prices of streaming services as of April, 2022: 

- Apple TV: From £4.99 a month

- Hayu: From £4.99 a month

- BritBox: From £6.99 a month

- Netflix: From £6.99 a month

- Disney: From £7.99 a month

- Amazon Prime: From £7.99 a month

- NowTV: From £9.99 a month

British households are now proactively looking for ways to save, and the subscription video-on-demand (SVoD) market is already seeing the effects of this.