Hulu and Disney+ rank second, third in study by Aluma Insights Subscribers spent average of $43.25 per month in 2022 LONDON: Netflix is the “most essential” streaming service for American audiences, according to a new market research report. Produced by Aluma Insights, the study said that almost two-thirds of subscribers to the platform regard it as a must-have. Hulu and Disney+ ranked second and third on the list, which along with Netflix were the only top 16 services to be rated as essential by more than half of subscribers. Epix Now, Apple TV+ and Peacock were found to be the least essential. “This is a one way of comparing a service’s utility with that of its competitors,” said Michael Greeson, the founder of Aluma Insights. “It says to some owners you’ve a bit more latitude when it comes to revenue optimization measures, such as cracking down on freeloading or increasing retail prices. It says to others there is great risk in significantly altering prices or service terms.” The report found that US households that used subscription video-on-demand services in 2022 spent an average of $43.25 a month on them, or about the same as the year before. However, it found that amid the difficult economic conditions the proportion of consumers open to paying more for their services fell from 14 percent to 8 percent in the year, while the number of subscribers looking to cut costs rose to 25 percent from 17 percent. “As buyers move closer to their SVOD spending limits, less essential services will have a difficult time optimizing revenue without enduring sizable subscriber losses,” Greeson said.