UK: Apple Music, Spotify and other competitors lose massive subscribers

For many years we have seen that everything is progressing in France and life is getting expensive. What we are experiencing today is also reflected in neighboring countries, in the face of inflation that has reached 9%, the British are slowly starting to eliminate the small monthly expenses they accumulate.

Streaming services get lost
1 million subscriber in
Britain

According to a recent report by consultancy Kantar, music streaming services in the UK have experienced a real hell during the first quarter of 2022. Whether it’s Apple Music, Spotify, YouTube Music or even Deezer, no service has survived this great wave of subscription cancellations.

This follows an increase in prices on fuel as well as food products. Simply put, like the French, the British have a lot lost power Negotiate In recent months, prompting them to re-prioritize and exclude monthly renewal subscriptions that are “not critical” or can be too easily replaced with generic alternatives.

The report states:

With inflation hovering at 9% in the UK and expected cost of living to rise further, rising music subscription cancellation rates are evidence that UK households are starting to prioritize at the expense of their disposable income. More than a million subscriptions were canceled last quarter, with the highest tier of consumers citing money savings as the reason for canceling their subscriptions. This number is up 4% from the same period last year.

This resulting drop in subscribers to music streaming platforms has undermined many figures among our neighbours, starting with the entire population of Great Britain, they are now less than 1% to subscribe.
Another worrying fact is that users under the age of 35 (usually very present on streaming services) are largely resilient. They had 57% to subscribe, today they are more than 53.5%,

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This harmful trend for Apple Music and its competitors has also been seen in the United States, over 5 million Users under the age of 35 canceled their offer. The financial economy is the main reason for the departure.

Source

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About the Author: Forrest Morton

Organizer. Zombie aficionado. Wannabe reader. Passionate writer. Twitter lover. Music scholar. Web expert.

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