April 3rd, 2023, Lesley Simeon
YouTube TV is raising the monthly subscription cost in the US by $8, from $64.99 to $72.99. While new members will see the prices increase effective immediately, existing users will have to pay the new price effective April 18, 2023. According to YouTube, the increase is due to a rise in “content costs.” The company last hiked prices for YouTube TV in 2020.
But what are the main factors that drive people to subscribe and unsubscribe from streaming services?
According to YouGov Profiles - which covers demographic, psychographic, attitudinal and behavioral consumer metrics - one of the main reasons US consumers use streaming services is to watch things on their own time. Two in five YouTube TV users (40%) and 30% of the general American population opt for streaming services or platforms to watch things whenever they want to.
Having the ability to watch content on the move is another important reason for choosing streaming services, with 29% of YouTube TV’s users and 16% of the general US population reporting this.
While 27% of YouTube TV’s users go for streaming services to access shows not available on traditional TV broadcasts, 25% choose streaming services since they are cheaper than other types of TV subscription.
When it comes to canceling paid streaming service subscriptions, 14% of YouTube TV’s users (and 5% of Americans in general) would consider unsubscribing if they can get the same content via a free streaming service with ads.
Price does emerge among some of the top reasons YouTube TV users would give up their paid streaming subscriptions. For instance, 11% of the platform’s users would cancel their subscriptions to avoid paying for shows they never watch, while 10% would do so as a cost-effective measure.
Further, 8% of YouTube TV’s users would consider canceling their paid streaming subscriptions if they don’t use the service enough to justify the cost.
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Methodology: YouGov Profiles is based on continuously collected data and rolling surveys, rather than from a single limited questionnaire. Profiles data for the US is nationally representative and weighted by age, gender, education, region, and race. Learn more about Profiles.
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