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American households are 1tightening their budgets and streaming services are taking a hit.
¡°It¡¯s just a really messy moment in the market with changing consumer behaviors.¡±
Last week, Netflix announced it lost 200,000 2subscribers in the first quarter and says it expects to lose a huge two million subscribers before July.
A new survey conducted by research firm Momentive and CNBC found 35% of Americans cut a monthly subscription to 3rein in their spending while another 36% are considering it. Another survey done in the UK by research firm Kantar found some services like Disney Plus are struggling to 4keep up with Netflix - which was still first choice for consumers to keep. Experts say it¡¯s evidence that Disney Plus is still trying to figure out what people want to watch. The popular ABC show ¡°Dancing With The Stars¡± will air 5exclusively on Disney Plus starting in the fall.
¡°If the only thing that your library has is kids content, or Marvel content or Pixar content, there¡¯s a difficult question of how do you keep 6audiences happy.¡±
And it¡¯s not just US households cutting back. According to Kantar, people in Britain cancelled 1.5 million subscriptions this year.
¡°You have obviously inflation and, and the war and a lot of 7uncertainty in the marketplace.¡±
So, what else is to blame? Streaming services boomed during the pandemic. But that¡¯s changing with return to normal and inflation rising. Experts also point to a 8behavioral shift among younger generations.
¡°And Youtube is free, and YouTube¡¯s usage 9ticked up in the US in March 2022 more than Netflix¡¯s.¡±
Article from: https://cnn.ybmnet.co.kr/cnn_class/2410