A new survey from TransUnion indicates that Gen Z consumers are the most fickle generation when it comes to streaming subscriptions with 30% of them canceling more than one service in the last six months and another 30% telling researchers they had canceled one service.
That was lower than all respondents to the TransUnion survey, which found that 24% of consumers had canceled on service and 15% had canceled more than one. About 32% of millennials had canceled one service and 18% had canceled more than one.
Only 31% of Gen Z consumers said they had not canceled a service in the last six months, compared to 47% of all respondents and 40% of millennials.
The most common reason for canceling were price hikes, with 52% of all respondents, 43% of Gen Z and 53% of millennials saying they got rid of a subscription service after it increased pricing.
Other common reasons for canceling were finishing a movie or TV show they could only get on the service (29% of all respondents), when they felt the service wasn’t adding new content (28%) and when they were given access to another person’s login credentials (17%).
There were also notable differences among age groups in terms of ad supported services. About one third (34%) of all respondents, 29% of Gen Z and 40% of millennials said all their subscription services had ads while 51% of Gen Z, 46% of millennials and 44% of all respondents said some of their services had ads. Only 14% of millennials, 21% of Gen Z and 22% of all respondents said that none of their subscription streaming services had ads.
The online survey of 3,000 adults aged 18 and older were conducted between Sept. 27 and October 2023. Gen Z includes people born 1995–2005; Millennials are those both 1980–1994.
