NEWPORT BEACH, Calif.—With the hurt cord-cutters have put on MVPDs over the past few years, many may be surprised by the findings of a new survey released from Bitcentral ViewNexa: about half of streamers question the value they receive from the services they use and a fifth believe they could do better.
The findings are detailed in the newly released “How to follow the audience: the challenge and opportunities in today’s streaming market” from the company. They are based on a poll of 1,000 adult consumers who subscribe to major streaming services, such as Netflix, Amazon Prime Video, Disney+ and Apple TV+, conducted in August by Sapio Research.
The poll found overall that 46% say they are not receiving a good value from streaming services, and 19% believe there are greener pastures available.
The research shows Baby Boomers offer an untapped opportunity for streamers to generate additional revenue. Those 59 to 77 years old told the researcher they are more likely to watch three ad breaks per hour. Far fewer millennials, however, are willing to watch commercials, the researcher found.
Free is a powerful draw if viewers find streaming content to be relevant. A total of 75% of respondents said they are interested in trying services like Pluto, Tubi and Amazon Freevee—all free, ad-supported streaming services. Similarly, 76% said they cited relevant content as the top reason to try a new service, the survey found.
Respondents gave a big thumbs down to Netflix’s crackdown on password sharing. A total of 65% of Netflix subscribers said the move has driven them to look for alternatives. Millennials, ages 27 to 42, are most likely to abandon Netflix due to the policy with 33% percent saying they are very likely to consider other services, it found.
“Despite what may seem a crowded marketplace, there is ample opportunity for companies with high-quality content to succeed in the direct-to-consumer streaming market,” said Greg Morrow, general manager of the streaming media group at Bitcentral. “A lot of the industry conversation is dominated by big streaming services that cater to a mass market, but there are whole swathes of viewers who are more than open to change if the content and price point are right. There is a fantastic opportunity to increase ARPU if providers cater better to the nuances among their audience.”
More information is available online.
