UK Digital Subscriptions Market Report 2022
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The UK Digital Subscriptions Market Report examines consumers’ behaviours in relation to digital subscriptions, the type of digital subscriptions that consumers have and the impact of the cost of living crisis on the digital subscription market. This report covers the digital subscription market size, market forecast, market segmentation and trends in the subscription eCommerce market.
The digital subscriptions market has dipped in 2022, with the cost of living crisis causing some people to cancel their subscriptions. Inflation has put all subscriptions at risk of losing customers, regardless of the income of the users. This financial squeeze will inevitably result in fiercer competition between digital subscription market services, as people are financially forced to decide which services they prioritise.
While more restricted consumer budgets will mean the subscription eCommerce market remains more challenging going into 2023, many consumers will prioritise their digital subscriptions over other leisure expenses.
Meanwhile, Netflix is experimenting with charging a fee for sharing account details for their video service outside of the home in several South American countries to try and combat subscribers sharing their login details with their friends or family, which is significantly hindering Netflix’s growth. If this strategy goes worldwide, it will make it harder for people to access multiple streaming services.
With consumers becoming more budget-conscious, service providers in the digital subscription market are likely to introduce more tier options, to attract a broader range of subscribers, including cheaper ad-supported tiers in the app.
In addition, more service providers in the digital subscription market are likely to broaden the content they have on offer, such as Netflix investing in gaming content. This opens up opportunities to offer subscription tiers based on varying levels of content or features.
To discover more about the UK Digital Subscriptions Market Report 2022, read our UK Attitudes Towards Video & TV Market Report 2022, or take a look at our Technology Market Research Reports.
Brands: Netflix, Amazon Prime, Spotify, Apple Music, Google Stadia, Xbox Game Pass, Dropbox, Google One, iNews, TIME, Apple Fitness+, FiiT, Scribd, Audible, Vogue, Tidal, YouTube Music Premium, Deezer Premium.
Products: Digital subscriptions cover video, audio, game streaming, cloud storage, news, magazine and fitness.
This report, written by Zach Emmanuel, a leading analyst in the technology sector, delivers in-depth commentary and analysis to highlight current trends in the UK digital subscription market and add expert context to the numbers.
Many digital subscribers see their subscriptions as a key part of their life and will be prioritising them over other leisure expenses during the next year. Brands can encourage retention by marketing discounted yearly subscriptions as ‘short-term pain, long-term gain’, enabling people to save money in the long run, while avoiding continual monthly expenses within this uncertain, inflationary period.”
Zach Emmanuel
Consumer Technology Analyst
Mintel provides a range of market information, frequently through the category level, including market size and forecasting, complete with market drivers that illustrate the forces that shape a category or market.
Mintel’s proprietary consumer research provides our analysts with the attitudinal and behavioral data used to provide valuable insight to topical issues.
Mintel provides overviews of the top brands and manufacturers, and uses consumer research to explore attitudes and reactions to brands, as well as insight into what will resonate with consumers.
Market reports provide appendices of data to support the research and insight produced. Our databooks* are easily manipulated and downloadable to support your research needs and covers factors from consumer attitudes to market forecasts.
*databooks not available with UK B2B Industry reports.
Please Note: This is a sample report. All of the figures, graphs, and tables have been redacted. Our reports are available to download in PDF and PPT formats.