KPMG Survey: Streaming’s “Golden Age” Is Fading Due to Inflation

One in five consumers are canceling at least one streaming service as a result of inflation, with nearly four in ten additionally saying they will cancel if inflation does not abate, according to KPMG’s 2022 Media Consumer Survey.

“With persistent inflation combined with rising streaming fees, consumer loyalty will be put to the test,” said Scott Purdy, National Media Industry Leader, for KPMG U.S. “Providers should be thinking outside of content and how they can make their services ‘stickier,’ for example, offering bundles or tie-ins.

Other select key findings from the survey include:

• Nearly half of those interested in the metaverse indicated their primary interest was to make money.
• Gen Z is not only the most knowledgeable around the metaverse, but they are also ready to build it with 21 percent of Gen Z respondents saying are planning to build a career in the metaverse, compared to 13 percent across all generations.
• Despite the recent decline in trading volume and value of non-fungible tokens (NFTs), 22 percent of consumers indicated they still plan to buy/mint/sell NFTs in the next year.
• An additional 23 percent of respondents said they were unsure about their involvement but didn’t tule out engaging in NFTs.

For additional findings and commentary on the survey, click HERE.