Nearly half of streaming customers would support ad-based service

New research shows that 70% of Irish consumers share their streaming subscriptions and nearly half would switch to a cheaper, ad-based service

One-third of Irish customers are thinking about cancelling one of their streaming services.

Nearly half of Irish customers would switch to a cheaper, ad-based streaming service if given the choice, a new survey has revealed.

The research, carried out by Momentive, analysed consumer attitudes towards services such as Netflix, which is used by 91% of Irish streaming customers.

The news was good for the company, which announced in May that it would introduce a new lower-priced subscription tier featuring ads by the end of this year. Of those surveyed, 44% said they would switch to such a service.

Irish customers pay one of the most expensive Netflix rates worldwide, with the price of the basic package increasing to €8.99 a month back in March.

The company has also warned about potential crackdowns on password sharing.

Nearly 40% of those surveyed by Momentive said they would switch services if such a clampdown took place, with 70% saying that they currently share their subscriptions with multiple people.

One-third are thinking about cancelling one of their streaming services altogether.

Netflix’s share price tumbled in April after it said it expected to lose two million subscribers over three months.

Meanwhile, Disney Plus, the next market leader in Ireland, added 7.9m new subscribers during the first three months of 2022.

“This research shows that whilst there are feasible ways streaming giants can pivot their business models to secure their future, they need to tread very carefully and equally keep a very close eye on competitor movement to navigate the current economic climate,” said Charley Longfellow, Senior Director of EMEA at Momentive.