The number one question for streaming services in 2024 is how to become profitable. For large services, like Disney+ and Hulu, that has been to raise the price of their service. Now that move puts pressure on smaller services as cord cutters start to cut back.
The problem for smaller streaming services that have been seen as a second option for streaming content is the high cost of services like Disney+. This could see cord cutters continue to cut back on streaming services they don’t want or offer less content.
According to more than 1,000 of our readers, 63.3% pay for four or fewer streaming services, 47.3% pay for three or fewer streaming services, and 27.3% pay for two or fewer streaming services.
While most cord cutters still pay for four or fewer streaming services, the number of cord cutters paying for five or more is up slightly since October 2023. Last October, 66.2% of cord cutters paid for four or fewer services. Part of that number may be the growth of sports across multiple streaming services, like the NFL airing a playoff game exclusively on Peacock back in January.
Price hikes could speed up the trend of cord cutters subscribing to fewer services. This, in the long term, would likely have minor impact on large streaming services but smaller services with a more niche market could struggle as subscribers decide whether to spend money on that streaming service that shows just anime or fishing content or do they want Disney+.