UK cancels more than one million music streaming subscriptions Due to the cost of living crisis, households have to save money.A report from market researcher Kantar found that 37% of customers cited saving money as a reason for cutting services, up 4% from the previous year.
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'Prioritize spending'
A new report finds that people who had access to at least one music subscription declined. It's now at 39.5%, down from 43.6% at the beginning of 2020.This includes fewer than 600,000 people under 35 who had access to music subscriptions compared to last year. with student access reduced from 67% to 59%.
For Amazon Music Unlimited, 37% of people who cancel said saving money was one of their main reasons. That number rose to 41% for Spotify.The higher music subscription cancellation rate is evidence that British households are starting to prioritize spending on their disposable income,” Kantar said.