Netflix has lost Australian subscribers for the first time since it launched locally in 2015, in a sign streaming growth is stalling and platforms are nearing a consumer ceiling amid increasing cost-of-living pressures.

Research firm Telsyte’s annual industry survey has found the rate of growth slowed for the seven most popular streaming services, which are increasingly battling for attention from the same cohort of customers. There are eight platforms with more than one million subscribers in Australia.