Multiple SVOD Service Use Rising, but Still Below ‘Mid-Pandemic’ Peaks: NPD

U.S. consumers are viewing slightly more subscription VOD services than a year ago, with most households, especially those with kids under 18, “churning through streaming TV services less frequently than they were during the first year” of the COVID-19 pandemic, reported NPD Wednesday. The average number of SVOD services per U.S. user reached 4.6 in April, down from the “mid-pandemic” peak of 5.2 in October 2020 but up from 4.3 in April 2021, it said. SVOD cancellations and declines in viewership are less likely to be driven by switching to other services than they were in early 2021, said NPD. The top driver of churn currently is that consumers “aren’t watching as much as before, with 33% of SVOD viewers making this claim, up from 29% a year ago,” it said. “These results aren’t surprising when you consider the fact that so many of us were stuck at home during the pandemic with plenty of time on our hands to try the direct-to-consumer SVOD services that had recently launched,” said John Buffone, NPD executive director-industry analyst. “We’re still above the levels that we were seeing before the pandemic started. During the first two months of 2022, streaming volumes had settled at levels seen between 2019 and 2021. When this all pans out, we do expect to see a net positive environment for the industry.”