Subscriptions for streamers are declining: MTM report

Based on 2023 data, the complete report uncovers new insights on TV ownership, video services, brands and consumer behaviour.

The latest season of MTM (Fall 2023) data shows that the majority (91%) of Canadians own a TV although it varies by generation, ranging from 96% of Baby Boomers and Seniors down to 81% for Gen Z. Samsung is the most popular brand (36%) followed by LG (18%) and Sony (14%).

Canadians are more likely to subscribe to Netflix or another SVOD service (78%) than to cable, satellite or fibre optic (66%) paid subscription. That said, 51% still subscribe to both. Why? Content. Mostly news (47%) or sports (41%). Other reasons include the subscriptions being part of a service provider bundle (36%) or personal preference (32%).

While the internet seems to be everywhere, a home internet connection is not a given. A majority (94%) of Canadians have internet at home but it’s less likely for older Canadians (81%), low-income households (87%) and those living alone (86%). The most likely to have home internet are young Canadians 18 to 25 (97%) and households with kids (98%). Less than half (48%) know the speed of home internet they’re paying for.

Canadians are interacting with online advertising, though not in great numbers.  More than four in 10 (44%) have clicked on an online ad in the past month and 37% have followed through to purchase after seeing the ad. Those born outside of Canada (41%) and racialized Canadians (44%) are more likely than total Canadians to make a purchase online.

MTM did discover the onset of SVOD fatigue over the past year. There has been a slow decline in subscriptions for services like Netflix and Amazon Prime from 81% in Fall 2022, to 79% in Spring 2023 and 78% in Fall 2023. Rising costs, an end to account sharing and content fatigue are some of the probable reasons for the decline.