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Media & Entertainment

Irish consumers are moving towards free subscription services and young adults prefer social media to read news

Report highlights

  • Price-sensitivity driving subscription cancellations: 27% cancelled a video streaming service in the last 12 months up marginally (24% in 2023), with the main reason this year being costs, followed by the service not being used enough (29%), or they needed to spend less on subscriptions to account for rising costs (21%).
 
  • Doubling down on account sharing: Over the last 12 months there has been a lot of coverage around Netflix’s restrictions on account sharing. Based on the responses to our survey 26% of users share their account with other households, down significantly from 2023 when 37% shared their account.
 
  • Free streaming services on the rise: Nine in ten consumers (87%) use a free video streaming service. This includes broadcaster video on demand (BVOD) which can be ad-supported and license fee-supported, and online video platforms.
 
  • Bridging the news source gap: News websites and apps are a popular middle ground (40% cite them as a preferred source), which bridge the gap between preferences of old and young.

Entertainment
 
  • Access to Smart TVs has levelled out, growing only to 72% in 2024 (2023: 71%), with 81% accessing them on a daily basis.
  • Access to video streaming services is stable at 74% and has broadly remained at this level for the last 4 years. Netflix is still the leader by a significant margin, with nearly 2 in 3 (59%) having access to it. However, this is a downward trend since the peak in 2021 when 65% of respondents had access to Netflix.
  • Having grown significantly since its launch in Ireland, Disney+ peaked at 36% in 2023. This has decreased by 4% in 2024 (32%).
  • 27% cancelled a video streaming service in the last 12 months, up marginally from 24% in 2023, with 31% reporting the main reason this year being costs (24% in 2023); followed by the service not being used enough (29%), or they needed to spend less on subscriptions to account for rising costs (21%).
  • Household sharing of accounts is down significantly to 26% in 2024 from 37% in 2023.

 

Lorraine Griffin, Chairperson and Tax Partner, expands on how SVOD services are cracking down on account sharing:

Access to SVOD services has seen a slight decrease in some areas, but overall relatively stable.

Almost two in five have not changed their video subscription services; a similar proportion have subscribed to a new service and one in four has cancelled a service.

Reason for Churn: 57% of those who have cancelled a paid subscription did it for reasons related to costs.

Subscription Video on Demand (SVOD): Has it peaked?


TV remains the preferred device for watching long-form content, such as movies. Combined with a marginal increase of access to Smart TV’s (72%), it is not surprising that access to subscription services remains flat in the current year with 74% of respondents having access to at least one paid digital subscription service, the growth rates seen in the COVID years have not continued. While the correlation between Smart TV ownership and access to subscription services holds, access to subscription services is lower in the 55 – 75-year-old cohort, who seem to be satisfied with free-to-air content from PSBs or traditional satellite/cable services.

The average respondent has access to 2.3 subscriptions services, consistent with 2023. The rate at which new subscribers are signing up is consistent with the prior year at 22% (2023: 21%).The re-subscription rates remained stable, however, 38% of users did not change their subscriptions in the current year, which is down 3% from 2023.

26% of SVOD users share their account About a quarter of those who access a paid video streaming service share access with someone outside their household.

26% of SVOD users share their account

Young adults claim to be majorly impacted by sharing

25% either stopped sharing with another household, or had another household stop sharing with them.
A shift to focusing on profitable growth
 

Several significant things happened in 2024 for SVOD, including pricing increases and the crackdown on account sharing, as SVOD platforms have focused on extracting more value from the three quarters (74%) of the market which already pays.

Over the last 12 months, there has been a lot of coverage on Netflix’s restrictions on account sharing. Based on the responses to our survey, 26% of users share their account with other households (2023: 37%). 25% either stopped sharing with another household or had another household stop sharing with them.

Young adults claim to be majorly impacted by sharing crackdown when compared to older age groups. Given the number of respondents with access to a subscription service has not changed, it seem that the early SVOD platforms crackdown has been successful.

 

Alternative options
 

Nine in ten consumers (87%) use a free video streaming service. This includes broadcaster video on demand (BVOD) which can be ad-supported and license fee-supported, and online video platforms.

Public service broadcasters are attempting to diversify to be less dependent on traditional TV advertising and grow digital income streams. Content strategies are also evolving, with a focus on cost, efficiency and potential viewership.

Free SVOD: Overall, almost nine in ten (87%) adults in Ireland use free video streaming services: YouTube and RTE Player are preferred by a majority.

Media
 
  • Younger adults prefer to use social media to stay up to date on news or current events, while older adults prefer TV.
  • Perception of online misinformation has increased compared to last year, with over half (53%) stating that they have seen information on social media that was subsequently proven to be fake more regularly.

 

Lorraine Griffin, Chairperson and Tax Partner, dives into some of the key stats on the impact of social media on Irish consumers:

TV is the primary source of news content for most, but there are variations by age group.

Younger adults prefer to use social media for news

67% of young adults prefer to use social media to stay up to date on news or current events

Older adults prefer TV news

76% of 55-64 year-olds and 83% of 65-75 year-olds prefer TV news
Are there reliable news sources out there?
 

Two-thirds (67%) of 18–24-year-olds cite social media as a top-three preferred news source. Younger groups tend use social media more and may engage organically with news content which is algorithmically tailored to them.

They have access to a wide range of perspectives, including interactive elements like comments and debate, but the variety of sources means that verifying the accuracy and authenticity of a story is crucial.

In contrast, a mere 11% of 65–75-year-olds cite social media as a top-three news source. This group prefers traditional sources of news such as TV news (83%).

News websites and apps are a popular middle ground (40% of all respondents cite them as a preferred source), which bridges the gap between preferences of old and young.

In the last 12 months, nearly three in four (71%) of respondents claim to have seen information deliberately designed to mislead, which is broadly consistent with the previous year (72%). This figure is self-reported, so only accounts for people who have identified misinformation (some may have seen misinformation but not identified it).

Perception of online misinformation has increased compared to last year, with over half (53%) stating that they have seen more regularly information on social media that was subsequently proven to be fake.

Claims to have seen misinformation more regularly is reported across all age groups.

Our research highlights the increasing exposure to misinformation, particularly online. As news consumption shifts towards social media, the need for media literacy and critical thinking has never been greater. Education remains key in empowering individuals to navigate digital spaces responsibly, ensuring access to information is accompanied with the skills to assess its accuracy.

Lorraine Griffin, Chairperson & Partner

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