The study indicates that prior to 2020, the average US streamer averaged about four streaming services. In the next two years, that number went up to over seven services. Now it's back down to a little over six.
Why are people cutting back? Cost is one reason, but I think people are becoming more savvy streamers. Luke Bouma at Cord Cutters News calls it a maturity of streaming:
We are also seeing recent price hikes pushing 56% of cord cutters to cut back on the number of streaming services they are paying for. This is not a sign of cord cutting slowing down but instead of the maturity of cord cutting.
Increasingly cord cutters are learning what they really want and need. This idea you have to have everything for most people is just not accurate.
A lot of new streamers will subscribe to a cable replacement service. I never did it that way, mostly because I cut before there were any services such as Sling TV, YouTube TV, or any of those. It was not even an option. I learned early on that replacing cable with the same thing except streaming wasn't necessary.
I think more people are realizing that. I think that many have simply switched from cable to a streaming version of cable, and with price hikes in everything over the last three years, including streaming services, they've come to realize they're paying nearly as much for streaming as they did for cable. Rather than go back to cable and long term contracts and hidden fees, they are finding ways to cut back. In the process, they realize they don't need all those services. They're also discovering that free ad-supported television (FAST) services are a viable option for a lot of content.
My Streaming Life has never included a lot of subscriptions. It wasn't possible when I cut the cord, so I found out it wasn't necessary. More people are realizing it's not necessary as well, and are saving money as a result.