1. Viewed the most as “spending time” as opposed to killing time.
2. Positive feedback from SWA subs.
3. Strong pricing power that is only getting stronger. Sentiment toward value has improved throughout increases.
4. Churn considerations remain in check; trained customers to “excpect” price increases.
5. Engagement is strong and improving, and interest in live sports is increasing.

Some Data From Our Latest Survey (Volume 50!)…

Consumers are most likely to view Netflix as “spending time” not “killing time”.

Though SWA momentum growth in terms of customer mix has moderated in recent quarters, feedback is broadly positive in terms of customer satisfaction and it has been a source for acquiring new users.

Netflix has strong pricing power, which has only increased over time. The price for SWA is viewed as a steal. Importantly, pricing / value satisfaction has held up extremely well throughout all the most recent price increases. And on top of that, they have now conditioned customers to EXPECT price increases (price increases not being a surprise helps with reactions to those price increases)

Netflix is among the most likely to be viewed as a “need to have”. An increasing majority of subscribers expect to be subscribers for another 5 years or more. The share of respondents who are considering churning remains well below series highs. The data on this front was not impacted by calls over the past 30 days to “boycott” Netflix.

Engagement with Netflix is strong and subscribers expect that to continue. Feedback around content is strong in general, and sentiment toward sports on Netflix remains constructive (there is increasing interest there among subscribers and non-subscribers).