Industry Benchmarks · Top 10
Top 10 Streaming Video (SVOD) Churn and ARPU Retention Metrics in 2027
Direct answer
Premium SVOD weighted average monthly churn is the top streaming retention metric in 2027, followed by net churn and ARPU per paid subscriber. Antenna put Premium SVOD churn at a steady 4.6% in 2025 and gross churn of 5.3% against net churn of 3.1% once resubscribers are counted, while Paramount+ reported ARPU of $8.52 in Q2 2026, up 12%. Netflix and Warner Bros. Discovery no longer publish subscriber or ARPU figures, so this page uses Antenna data and company filings and says where no number exists.
At a glance
| # | Pick | Definition | Best for |
|---|---|---|---|
| 1 | Premium SVOD Weighted Average Monthly Churn Rate | Antenna: cancels in a given month divided by subscribers at the end of the previous month | A single monthly retention number to compare your service with the U.S. premium streaming category |
| 2 | SVOD Net Churn Rate (Cancels Minus Resubscribers) | Antenna: cancellations in a month minus resubscriptions in that same month, divided by the previous month total subscribers | Services with many win-back subscribers that want to see churn after returning customers are counted |
| 3 | SVOD ARPU per Paid Subscriber (Paramount+ Benchmark) | Total Paramount+ revenues in the period divided by the average of beginning and ending subscribers, further divided by the months in the period | Showing whether each retained subscriber is worth more over time |
| 4 | SVOD 12-Month Subscriber Survival Rate | Antenna Survival: the percentage of new subscribers in a given month who remained subscribed and did not cancel in each period thereafter | Judging how well a sign-up cohort holds over a full year |
| 5 | Serial Churner Share of Subscribers and Gross Adds | Antenna: individuals with three or more cancels among Premium SVOD services within the last two years | Separating loyal subscribers from deal-hoppers before judging a promotion |
| 6 | Premium SVOD Gross Additions vs Cancels | Antenna Net Subscriber Adds: new paying subscribers in each month, including converted trials, less the cancels in that same month | Checking whether acquisition is outrunning cancellations quarter by quarter |
| 7 | Specialty SVOD Churn Gap vs Premium | The difference between monthly churn at Specialty SVOD services and at Premium SVOD services | Niche services setting a realistic churn target |
| 8 | Low-ARPU Bundle Exits (Subscriber Quality Pruning) | Subscribers removed on purpose by exiting low-value distribution deals, such as international hard bundles, to improve revenue per subscriber | Explaining why subscriber counts can dip while ARPU rises |
| 9 | Company-Disclosed Churn Trend (Shareholder Letters) | The direction of churn that a streamer states in its earnings letter when it gives no churn rate | Reading retention direction at services that publish no churn rate |
| 10 | Streaming Revenue and Average Rate per Paid Subscriber (Peacock) | Streaming revenue growth split between paid subscriber growth and higher average rates | Seeing how rate and volume combine into streaming revenue at a service that does not publish ARPU |
Pick by what you want
Best overall
Premium SVOD Weighted Average Monthly Churn Rate
Best for win-back programs
SVOD Net Churn Rate (Cancels Minus Resubscribers)
Best for revenue per subscriber
SVOD ARPU per Paid Subscriber (Paramount+ Benchmark)
Best for cohort retention
SVOD 12-Month Subscriber Survival Rate
Best for niche services
Specialty SVOD Churn Gap vs Premium
The ranking
1
Premium SVOD Weighted Average Monthly Churn Rate
Photo: Shixart1985 / CC BY 2.0 via Wikimedia Commons
Answrs VerdictThe headline SVOD retention benchmark.
Definition: Antenna: cancels in a given month divided by subscribers at the end of the previous monthPremium SVOD, 2025: The Weighted Average Churn Rate for the category hit a steady 4.6% in 2025June 2025: Antenna estimated Premium SVOD Weighted Average Monthly Churn at 4% in June 2025Year-over-year trend: Flat or lower churn in 7 of 11 months of 2025 versus the same month a year earlier, compared with only 2 of the previous 21 monthsService stability: 7 of 9 Premium SVOD services showed more stable churn patterns in 2025 versus 2023
Antenna divides cancels in a month by subscribers at the end of the previous month. The Premium SVOD weighted average hit a steady 4.6% in 2025, with flat or lower churn in 7 of 11 months versus the prior year, and 4% in June 2025.
Go ifA single monthly retention number to compare your service with the U.S. premium streaming category
Skip ifYou need a churn rate for one named service; the 2025 category figure is a weighted average
Why #1 over #2: It is the one category-wide monthly benchmark, while net churn needs resubscription data most teams lack.
2
SVOD Net Churn Rate (Cancels Minus Resubscribers)
Photo: Santeri Viinamäki / CC BY-SA 4.0 via Wikimedia Commons
Answrs VerdictThe loyalty-adjusted churn KPI.
Definition: Antenna: cancellations in a month minus resubscriptions in that same month, divided by the previous month total subscribersPremium SVOD, September 2024: Weighted Average Gross Churn Rate of 5.3% versus a Net Churn Rate of 3.1%Track record: Premium SVOD Weighted Average Net Churn was below 3% in 23 of the 33 months between January 2022 and September 2024Netflix, September 2024: Lowest churn rates: 1.8% gross churn and 1.0% net churn, per Antenna estimatesPeacock, September 2024: Biggest gap between gross and net churn: 7.4% gross versus 4.0% net
Net churn subtracts resubscriptions from cancels before dividing. In September 2024 Premium SVOD gross churn was 5.3% against net churn of 3.1%; Netflix ran 1.8% gross and 1.0% net, and Peacock 7.4% gross and 4.0% net.
Go ifServices with many win-back subscribers that want to see churn after returning customers are counted
Skip ifYou lack resubscription data; without it the net figure cannot be built
Why #2 over #3: It shows true loss after win-backs, which ARPU does not measure.
3
SVOD ARPU per Paid Subscriber (Paramount+ Benchmark)
Photo: Laura Alier / CC BY 4.0 via Wikimedia Commons
Answrs VerdictThe per-subscriber revenue KPI.
Definition: Total Paramount+ revenues in the period divided by the average of beginning and ending subscribers, further divided by the months in the periodParamount+, Q2 2026: ARPU of $8.52, up 12% from $7.64 in Q2 2025Paramount+ revenue: $2,061 million in Q2 2026 versus $1,771 million in Q2 2025, revenue growth of 16% year-over-yearGrowth mix: Revenue growth reflected subscriber growth of approximately 6% and ARPU growth of approximately 12%Subscribers: 81.6 million Paramount+ subscribers worldwide at the end of Q2 2026
Paramount+ divides its revenue by average subscribers and months. ARPU reached $8.52 in Q2 2026, up 12% from $7.64, on revenue of $2,061 million versus $1,771 million and 81.6 million subscribers.
Go ifShowing whether each retained subscriber is worth more over time
Skip ifYou need a cross-industry ARPU figure; Netflix and Warner Bros. Discovery no longer publish one
Why #3 over #4: It is the only published dollar ARPU among the big premium services, which survival rates do not give.
4
SVOD 12-Month Subscriber Survival Rate
Photo: Shixart1985 / CC BY 2.0 via Wikimedia Commons
Answrs VerdictThe cohort retention KPI.
Definition: Antenna Survival: the percentage of new subscribers in a given month who remained subscribed and did not cancel in each period thereafterPremium SVOD: 35 percent of new subscribers remain subscribed after 12 monthsSpecialty SVOD: 27 percent remain subscribed after 12 monthsEarly drop-off: Fewer than half of new Specialty subscribers remain after four months
Antenna survival tracks how many of a month of new subscribers never cancel. After 12 months, 35 percent of new Premium SVOD subscribers remain, against 27 percent for Specialty SVOD, and fewer than half of new Specialty subscribers last four months.
Go ifJudging how well a sign-up cohort holds over a full year
Skip ifYou want a single month view; monthly churn is simpler to track
Why #4 over #5: It follows a whole cohort for a year, which a serial churner count does not.
5
Serial Churner Share of Subscribers and Gross Adds
Photo: Rhett Noonan rhett_noonan / CC0 via Wikimedia Commons
Answrs VerdictThe subscriber-quality KPI.
Definition: Antenna: individuals with three or more cancels among Premium SVOD services within the last two yearsSize, end of Q3 2024: Some 29.5M Serial Churners, 23% of Premium SVOD subscribers, up +149% from 11.8M at the start of 2022Activity: Serial Churners drove 41% of Gross Adds and 42% of Cancels through Q3 2024Three-month retention: For Q3 2023 subscribers, 61% of Non-Serial Churners were still subscribed three months later, versus 54% of Standard Serial Churners and 38% of Super Heavy Serial Churners
Antenna counted some 29.5M Serial Churners at the end of Q3 2024, 23% of Premium SVOD subscribers, driving 41% of Gross Adds and 42% of Cancels. Three months after signing up, 61% of Non-Serial Churners stayed, versus 38% of Super Heavy Serial Churners.
Go ifSeparating loyal subscribers from deal-hoppers before judging a promotion
Skip ifYou need a 2026 figure; the latest public serial churner data runs through Q3 2024
Why #5 over #6: It explains why churn stays high, which raw add and cancel volumes cannot.
6
Premium SVOD Gross Additions vs Cancels
Photo: Y2kcrazyjoker4 / CC BY-SA 4.0 via Wikimedia Commons
Answrs VerdictThe churn-replacement KPI.
Definition: Antenna Net Subscriber Adds: new paying subscribers in each month, including converted trials, less the cancels in that same monthQ3 2026: 36.8M Gross Additions against Cancels of -38.5M, a -1.7M loss, the first quarterly net loss since Q3 2025September 2026: 546K Net Additions, an increase of +2.4M MoM; cancels decreased by 1.1M MoMQ1 2026: 44.1M Gross Additions and 40.8M Cancels, resulting in 3.2M Net Additions; cancels held in a narrow band for 3 consecutive quarters
Premium SVOD took 36.8M Gross Additions against Cancels of -38.5M in Q3 2026, a -1.7M loss. September 2026 swung back to 546K Net Additions, and Q1 2026 had 44.1M Gross Additions against 40.8M Cancels.
Go ifChecking whether acquisition is outrunning cancellations quarter by quarter
Skip ifYou want a churn percentage; this shows raw volumes
Why #6 over #7: It covers the whole premium category, which the specialty churn gap does not.
7
Specialty SVOD Churn Gap vs Premium
Photo: TaurusEmerald / CC BY-SA 4.0 via Wikimedia Commons
Answrs VerdictThe niche-service retention KPI.
Definition: The difference between monthly churn at Specialty SVOD services and at Premium SVOD servicesSpecialty churn, 2026: Hovered around 4 percent in June and peaked at 9 percent in JanuaryGap: Specialty churn has consistently run two to four percentage points higher than premium SVOD servicesCategory size, Q2 2026: 42M total Specialty SVOD Subscriptions across 31 services; Specialty grew 14% YoY versus Premium SVOD 6% growth
Specialty SVOD churn hovered around 4 percent in June and peaked at 9 percent in January, running two to four percentage points above premium. The category reached 42M subscriptions across 31 services, growing 14% YoY.
Go ifNiche services setting a realistic churn target
Skip ifYou run a general-entertainment service; use the premium benchmark
Why #7 over #8: It gives niche services a published benchmark, which bundle exits do not.
8
Low-ARPU Bundle Exits (Subscriber Quality Pruning)
Photo: Nielsoncaetanosalmeron / CC BY 4.0 via Wikimedia Commons
Answrs VerdictThe ARPU-quality KPI.
Definition: Subscribers removed on purpose by exiting low-value distribution deals, such as international hard bundles, to improve revenue per subscriberQ2 2026: Nearly 2 million international hard bundle exits in the quarterFirst half 2026: Selective strategic exits, including 3 million exits in 1H 2026, and approximately 4 million strategic international hard bundle exitsResult: About 2 million net new Paramount+ subscribers in Q2 2026 to reach 81.6 million, with ARPU growth of approximately 12%
Paramount+ made nearly 2 million international hard bundle exits in Q2 2026 and approximately 4 million in all, yet still added about 2 million subscribers to reach 81.6 million with ARPU growth of approximately 12%.
Go ifExplaining why subscriber counts can dip while ARPU rises
Skip ifYou sell only direct; bundle exits apply to wholesale deals
Why #8 over #9: It is a measured action with numbers, while company churn commentary gives none.
9
Company-Disclosed Churn Trend (Shareholder Letters)
Photo: Coolcaesar / CC BY-SA 4.0 via Wikimedia Commons
Answrs VerdictThe disclosure-reading KPI.
Definition: The direction of churn that a streamer states in its earnings letter when it gives no churn rateNetflix, Q3 2026: Churn improved year-over-year and was better than forecast; member response to 2026 price changes is consistent with prior adjustmentsParamount+, Q2 2026: Q2 was the lowest churn quarter and best quarter for retention in Paramount+ historyWarner Bros. Discovery: The fourth quarter of 2025 will be the last quarter it reports subscribers and ARPU
Netflix said churn improved year-over-year and was better than forecast in Q3 2026. Paramount+ called Q2 2026 its lowest churn quarter on record. Warner Bros. Discovery stopped reporting subscribers and ARPU after the fourth quarter of 2025.
Go ifReading retention direction at services that publish no churn rate
Skip ifYou need a number; these are qualitative statements
Why #9 over #10: It covers the largest service, Netflix, which the Peacock figures do not.
10
Streaming Revenue and Average Rate per Paid Subscriber (Peacock)
Photo: dconvertini / CC BY-SA 2.0 via Wikimedia Commons
Answrs VerdictThe rate-and-volume KPI.
Definition: Streaming revenue growth split between paid subscriber growth and higher average ratesPeacock paid subscribers, Q3 2026: Increased 17% year-over-year to 48 millionPeacock revenue: $1.8 billion in Q3 2026 compared to $1.4 billion in the prior-year periodRate driver: Higher Peacock distribution revenue reflected higher average rates and an increase in paid subscribersProfitability: Adjusted EBITDA of $261 million related to Peacock versus a loss of $217 million a year earlier, including FIFA World Cup amountsPublished ARPU: Not published: Comcast gives no Peacock ARPU figure
Peacock paid subscribers rose 17% to 48 million in Q3 2026 and revenue reached $1.8 billion versus $1.4 billion, helped by higher average rates. Peacock posted Adjusted EBITDA of $261 million against a $217 million loss a year earlier; Comcast gives no ARPU.
Go ifSeeing how rate and volume combine into streaming revenue at a service that does not publish ARPU
Skip ifYou want a stated ARPU; Comcast does not give one
How we ranked these
We ranked ten SVOD churn and ARPU retention metrics by how directly each measures subscriber retention or revenue per subscriber, and whether a published benchmark exists. Churn, survival, serial churner and add-versus-cancel figures come from Antenna, which models U.S. consumer transaction data and publishes its definitions on its methodology page; specialty survival and churn figures are as reported by The Desk on August 17, 2026. ARPU and retention statements come from the Paramount Skydance Q2 2026 10-Q and August 4, 2026 earnings release, the Netflix Q3 2026 shareholder letter, the Comcast Q3 2026 earnings release and the Warner Bros. Discovery Q4 2025 letter. Some Antenna figures, such as net churn and serial churners, are the latest public data even though they date from 2024. Where no number is published, such as Netflix churn or Peacock ARPU, we say so instead of estimating. Broader streaming sales KPIs are on our streaming media and OTT sales KPIs page. Facts are taken from each maker's own published information; check the official site before you buy.
Questions people ask
What is a good monthly churn rate for a streaming service?
Antenna put the Premium SVOD weighted average churn rate at a steady 4.6% in 2025. Specialty services run two to four percentage points higher.
How does Antenna calculate streaming churn?
Cancels in a given month divided by subscribers at the end of the previous month. Net churn subtracts resubscriptions in that month before dividing.
What is the difference between gross and net churn?
Net churn counts subscribers who come back. In September 2024 Premium SVOD gross churn was 5.3% versus net churn of 3.1%, per Antenna.
What was Paramount+ ARPU in 2026?
Paramount+ ARPU was $8.52 in Q2 2026, up 12% from $7.64 in Q2 2025, and Q2 was its lowest churn quarter on record.
Premium SVOD gross vs net monthly churn, September 2024 (Antenna estimates) at a glance
Netflix net churn1 %
Netflix gross churn1.8 %
Premium SVOD net churn3.1 %
Peacock net churn4 %
Premium SVOD gross churn5.3 %
Peacock gross churn7.4 %
Official sites
- Premium SVOD Weighted Average Monthly Churn Rate · antenna.live
- SVOD Net Churn Rate (Cancels Minus Resubscribers) · antenna.live
- SVOD ARPU per Paid Subscriber (Paramount+ Benchmark) · sec.gov
- SVOD 12-Month Subscriber Survival Rate · thedesk.net
- Serial Churner Share of Subscribers and Gross Adds · antenna.live
- Premium SVOD Gross Additions vs Cancels · antenna.live
- Specialty SVOD Churn Gap vs Premium · thedesk.net
- Low-ARPU Bundle Exits (Subscriber Quality Pruning) · sec.gov
- Company-Disclosed Churn Trend (Shareholder Letters) · sec.gov
- Streaming Revenue and Average Rate per Paid Subscriber (Peacock) · sec.gov
Sources
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