The streaming video landscape will definitely look more interesting and fragmented than ever as 2019 continues to develop, with established names such as Netflix and Hulu continuing to gain market share as traditional cable providers are trying their best to slow subscribers' bleeding and newcomers like Disney + enter the picture. Proving how dramatic a shift is today, PwC has come out with its annual A New Video World Order streaming and pay-TV report, which includes such insightful statistics among many other insights:
The number of subscribers who subscribe to pay-TV fell from 73% to 67% last year – no surprise – while Netflix's use of 76% exceeded cable and satellite for the first time.
For the report, PwC surveyed a group of 2,016 people in the US between the ages of 18 and 59, with household incomes in excess of $ 40,000 a year, to get a better sense of the choices that consumers make. "As pay-TV subscriptions continue to decline," the report says, "they are being replaced by a number of live and on-demand streaming options that are growing day by day.
"Spectators can use a dizzying array of services to create their own consumption," Nirvana. "However, there is bound to be an upper limit to the number of different services a consumer is willing to pay for and how much time they spend a day consuming. This leads some in the industry to believe that the growth of content and platforms may not be sustainable in the long term. "
That's why we keep putting in high gear as all the different streamers try to consolidate their place in this new landscape. Netflix has recently implemented the headline price increase and Hulu is following a price decline.
The PwC report is particularly revealing when it comes to showing how people judge the different services, not just what they pay for and why. For example, AI-based recommendations are a familiar part of the user experience for these streaming platforms. The entire "If You Like This, Check This Out" recommendation engine that uses these services is designed to engage you as long as possible in the service. However, according to this report, most consumers are not yet the biggest fans of this type of computer generated suggestion lists.
More than a third of consumers (36%) believe that finding what they want to see is generally easier. And only 21% of consumers believe their streaming service knows what they want to see better than they do.
In the meantime, here are a few other statistics that should serve as a warning for these streaming services, regardless of what we are talking about. Again from the report:
Only 12% of consumers claim to find content on the streaming service of their choice easily. This is an indication of what they think is too complicated layouts. "Despite the alluring appeal of streaming services, 50% of consumers in our focus group said they would shut down a provider if the service was overwhelming (too much content) or impractical (not enough ways to overcome bad discovery.) "
Source: AP / REX / Shutterstock