Apple TV+ churn rate jumps to 6.4%

Apple TV+ and subscribers of other streaming services are canceling more of their plans compared to the year-ago period.

Alexandra Canal for Yahoo Finance:

According to new data from consumer measurement platform Antenna released on Tuesday, US subscriber churn — or the act of paying users abandoning their streaming plans — was elevated last month when compared to the year-ago period.
Across all streaming platforms, churn in July stood at 6%, higher than the 4.7% seen in the same month last year. Churn rose for every major streaming service except for one: Netflix
Antenna’s data showed churn rates eased slightly, to 3% from 3.1%, for Netflix despite the company rolling out its controversial password-sharing crackdown.
Others weren’t so lucky. Apple TV+ saw its churn rate jump to 6.4% last month versus 5.5% in July 2022. Churn rates for Disney’s service rose to 4.6% compared to 4.0% in the year-ago period, while the churn rates for Hulu, Max, and Peacock climbed by 0.8%, 1.1%, and 1.5%, respectively.
Overall, Lionsgate’s Starz had the highest monthly churn in July compared to other major streaming platforms at a rate of 11.9%, followed by Peacock at 8.7% and Paramount+ at 7.4%.

MacDailyNews Take: Higher prices amidst high inflation combined with Netflix’s password sharing crackdown are the likely contributors. Those who were sharing Netflix passwords had a choice to make. Those who chose to begin paying for Netflix see to have canceled out those who left Netflix, but some percentage of those who began paying likely canceled another or multiple other services to cover the cost. In other words, the high churn of July was an anomaly due to a conflux of events.
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