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Consumers love to binge-watch streaming video. But as the number of streaming services has grown, more subscribers are scrutinizing subscription expenses and deciding to cancel. People who do this too frequently — “serial churners” — pose a special challenge to companies like Netflix. This article presents three ways companies can seek to reduce the problem of serial churn.
Netflix’s Stranger Things was the top streamed show in 2022, according Nielsen, with 1.35 billion hours viewed in the first 28 days after the show’s launch. That gigantic viewing number is good news for Netflix, which has faced new competition in recent years, but it’s counterbalanced by less rosy news: According to Antenna, a measurement company for the subscription economy, Stranger Things was also the most popular Netflix show among “serial churners,” a category of consumers who destroy lifetime value by binging and bailing.
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Copyright for syndicated content belongs to the linked Source : Harvard Business – https://hbr.org/2023/07/tackling-the-problem-of-subscribers-who-bingethen-bail