The Battle For Video Streaming (OTT) Subscribers
As more video streaming options appear and content libraries become even more fragmented, consumers will prioritise and manage their video services.
— Total pay-TV users remained stable at 68% in 2019, compared to 67% last year
— Netflix usage shows signs of slowing this year while others (eg Hulu and HBOGo) gained market share
— 76% consumers satisfied with their current video services
— But consumers still looking for the next big thing, with half intending to subscribe to new entrants in the market
— 64% of respondents who intend on subscribing to new a new video entrant would downgrade or terminate one of their current video services to do so.
— While 25% of all consumers actively looking to unsubscribe from some services, cited a lack of need, perceived worth and making room for another service as top reasons to terminate.
Summary: Consumers are willing to spend more to get the content they want, so it’s vital video streaming platforms: get the price right, design content for key segments, explore strategic partnerships, & consider loyalty programs.
Full PWC research can be found here