In its report ScreenThink, based on an online survey of 3,000 UK adults, 60% of SVOD users were open to switching, alongside 42% of pay TV customers.

The average SVOD user has access to 2.9 paid services, with 18% cycling between subscriptions every month, 21% doing so more infrequently and 21% considering doing so in the future.

Promotions were influencing 40% of subscription decisions, with Now TV seeing a third of subscriptions taken out at a discounted rate, and YouTube and Apple TV subscribers also more likely to mention retention deals as a factor in staying loyal.

In pay TV, 37% are considering downgrading, with cost-of-living pressures, streaming alternatives and perceptions of value the key drivers.

The report added that 56% of sports fans feel the way sports rights are divided between services is unfair, with 15% confident they know which service is showing a specific game or tournament. 

YouTube is also continuing to grow, with a record 23% of 16 to 34-year-olds saying they opt for the platform as first choice.

Rob Collier, strategy director at MTM, said: “More choice is giving consumers access to a wider range of content, but it is also making loyalty harder to secure. With six in 10 SVOD users open to cycling between services, providers need to give audiences a clear reason to stay with them and make the value of their offering easy to see.  

“That applies to sport too. Fans recognise the value broadcasters bring, but with rights spread across more services, making content easier to find and access is increasingly part of the viewing experience.”