Churn Statistics
It's hard to get data around churn rates as it depends on the industry that the company belongs to, its pricing structure, the audience's engagement, etc. You will see anything from 2% churn for high engagement audiences to 6% for medium engagement, all the way up to 11% churn being a figure that is still common.
The highest percentage of people churning will happen in their first month. For some industries, the average LTV (Lifetime Value) is just three months, which can be very discouraging. So getting people to sign up for an annual plan instead of the monthly is a great way to get higher ROI on a single client on average, even if you give a steep discount.
To help reduce your churn rates:
Activate the Reduce Churn automation tools available to your platform. Learn how it works and how it can help you in the long run.
Review your Churn Stats provided by the canceling quiz, then act to improve from those feedback.
Do regular content updates. It will help your users want to stay to have access to all content, thus increasing engagement.
Run promotional offers regularly (offering coupons can help with this).
Actively asking for feedback from your audience on what they like/dislike or want more of. You could create a survey for users that you send via email.
Check out your Analytics tab to see what your audience is watching the most. Consider adding more content similar to their interests or that builds up from that content they enjoy.