Most Subscribers Will Drop Streaming Service Over 5% Price Increase, Poll Reveals

Zinger Key Points

More than half -- 54% -- of 90 respondents indicated that they would drop a service once the price goes up 5% to 10%, the survey showed.
Another Benzinga survey revealed that 45% of 60 respondents would be least likely to cancel Netflix if its price went up.
Benzinga shares with you top insiders news

It apparently doesn’t take much of a price hike for viewers to cancel streaming subscriptions, according to a poll taken by Benzinga.

According to the survey, 54% of the 90 respondents said they would cancel a service if its price increased by 5% to 10%.

About a quarter, or 24%, would say goodbye to the subscription if the cost is raised 10% to 20%, while 13% would cut it after an increase of more than 20%.

The remaining 8% of the respondents will never cancel a service, no matter how high the cost, the poll revealed.

That’s good news for Netflix, Inc. NFLX , because another Benzinga survey showed that 45% of 60 respondents would be least likely to cancel it if its price went up, but it isn’t great tidings for HBO Max, which is owned by Warner Bros. Discovery WBD. The poll indicated that only 3% of those surveyed would be least inclined to stop that service if its price increased.

Read Now: It’s Not YouTube, It’s Ad-Blockers: Why Are Your Videos Buffering Too Slow?

The analysis uncovered that 23% of subscribers have put other streaming services at the bottom of their list of subscriptions to get the axe in response to a price jump. They included Fox Corporation’s FOX Tubi, Alphabet Inc.’s GOOG YouTube, Spotify Technology S.A.‘s SPOT Spotify, Charter Communication Inc.’s CHRT Spectrum and Paramount Group Inc.‘s PGRE Paramount+.

The poll also found that 12% of respondents were least likely to cancel Disney+ in response to a price hike, while 7% were most reluctant to drop Hulu. Both services are owned by The Walt Disney Company DIS.

Disney+ Premium is increasing the monthly price for its streaming service from $13.99 to $15.99. A third Benzinga survey of 59 people polled showed that 46% said they do not have a subscription to this service, while 37% of the respondents said they planned to cancel the service due to the price hike, while 17% said they will keep it.

The polls were conducted by Benzinga on Aug. 8 and Aug. 9 and included the responses of a diverse population of adults 18 or older. Opting into the surveys was completely voluntary, with no incentives offered to potential respondents.

Read Now: