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The 18th annual Digital Media Trends report by Deloitte reveals that the average American household spends $61 per month on four streaming services, up 27 percent from last year.
The survey indicates that 36 percent of consumers feel the content available on streaming services is not worth the price, with 48 percent willing to cancel if prices increase by $5.
Churn rates remain high at 40 percent, but consumers are seeking personalized experiences and easier content discovery.
Gen Z and millennials rely more on social media for content recommendations, and diverse representation in entertainment is important to many consumers.
The report also highlights preferences for human-created content over generative AI and the influence of social media on entertainment consumption habits.
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