Parks Associates: Prime Video Has The Lowest Churn Rate at 8% While Streaming Service Discovery+ is Nearly at 43%

Research service reports quarterly on churn rates for 89 North American streaming video services

DALLAS, May 30, 2024 /PRNewswire/ — Parks Associates recently announced updates to its Streaming Video Tracker, which now tracks churn data for 89 total services, of which 85 are SVOD services. The Streaming Video Tracker, delivered through an online portal, helps stakeholders understand the vast landscape of OTT video service providers, with insights on business models, new services, global expansion, and growth of individual services.

Parks Associates’ most recent churn data, from its quarterly consumer survey of 8,000 internet households, shows that Prime Video has the lowest churn rate at 8%, while streaming service Discovery+ is nearly at 43%.

“Churn is part of the standard business model, but companies are working hard to minimize it and keep consumers engaged longer,” said Eric Sorensen, Director, Streaming Video Tracker, Parks Associates. “Amazon Prime Video has held the lowest churn rate for the last two years because it is included with Prime; however, Netflix continues to creep closer and reduce churn by adding more tiers of service and syndicated content.”

The Streaming Video Tracker delivers monthly market updates analyzing the most important announcements in the streaming market, including significant content changes and industry trends. These all complement the data provided in the portal. Part of the ongoing updates includes strategic insight into how different business models affect NPS and churn rates. For example, the service tracks the bundling strategies for Disney+ and Hulu to determine their impact and if these efforts are reversing recent spikes in subscriber churn from these services.

“Streaming services are navigating a mature market where retention and referrals, as well as partnerships and brand loyalty are critical,” Sorensen said.

The Streaming Video Tracker’s quarterly estimates include an exhaustive analysis of market trends and profiles for more than 300 over-the-top video services in the US and Canada. It also estimates subscribers, viewers, and transactional users for these OTT services, including those that do not publicly release customer figures.

The Streaming Video Tracker subscription service provides the following details:

• Reported and estimated number of OTT service users/subscribers
• Availability by country
• Service ownership
• Significant service dates (e.g., launch, closure)
• Platforms supported
• Languages supported
• Target markets
• Types of available content

To schedule an interview with an analyst or to request specific data, please contact Mindi Sue Sternblitz-Rubenstein at [email protected] or 972-490-1113.

About Parks Associates
Parks Associates, a woman-founded and certified business, is an internationally recognized market research and consulting company specializing in emerging consumer technology products and services. Founded in 1986, Parks Associates provides business intelligence and research services through its proprietary methodologies developed over decades, including quarterly surveys of 10,000 internet households.

The company’s expertise crosses many industries: home security and smart home, streaming video, broadband and pay-TV services, digital media and platforms, gaming, Wi-Fi and home networks, connected health, support, consumer electronics, home control systems, energy management, and tech solutions for the multi-dwelling (MDU), small-to-medium business (SMB), and commercial building markets.

Each year, Parks Associates brings thousands of leaders together for its webinars and annual events. The firm hosts the annual executive research and strategy conferences CONNECTIONS™, Connected Health Summit, Smart Energy Summit, Smart Spaces, and Future of Video. https://www.parksassociates.com

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Contact:
Mindi Sue Sternblitz-Rubenstein
Parks Associates
972.490.1113
[email protected]

SOURCE Parks Associates