<![CDATA[The rapid growth of Subscription Video-on-Demand (SVoD) services has shifted the industry's strategic focus from user acquisition toward retention, yet current literature emphasizes cognitive paradigms over behavioral manifestations. This study aims to develop and test an integrated retention model grounded in the Stimulus–Organism–Response (S–O–R) framework by examining the relationships among technical stimulus, social viewing influence, perceived value, binge-watching, and continuance intention among Netflix users aged 18-25 in North Sumatra, Indonesia. Using a quantitative survey design, data were collected from 304 valid respondents drawn from the Generation Z cohort and analyzed through Partial Least Squares Structural Equation Modeling (PLS-SEM). The results show good model performance, with an R-square of 0.628 for continuance intention. All hypothesized direct and indirect relationships were positive and significant. Technical stimulus and social viewing influence significantly enhance perceived value, which subsequently drives binge-watching and strengthens continuance intention. Mediation analysis confirms the pivotal role of binge-watching in transforming cognitive evaluation and social influence into continuance intention. Theoretically, this study extends the S–O–R framework by integrating cognitive and behavioral mechanisms in explaining digital retention. Practically, the findings offer guidance for SVoD providers to optimize social engagement features and personalization strategies to reduce churn.]]>
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