A new consumer survey from Juniper Research has found increased churn rates at video streaming services such as Amazon Prime (-2.9%) and HBO Now (-19.2%), in key markets including the UK and the US.
By contrast, however, Netflix – home of scripted series like Stranger Things and Black Mirror – is showing positive adoption rates in both the US and UK (6.3% and 7.7%), countering the assumption that services are typically discontinued after the trial month.
More generally, Juniper’s Digital TV & Video: Consumer Attitudes and Network & OTT Strategies 2018-2023, found that consumers are increasingly forced to sign up to multiple SVOD subscriptions to source the content they want. For example, Chinese and US respondents acquire an average of three subscriptions each, compared to 2.5 in the UK.
Research author Lauren Foye said: “The use of multiple subscriptions suggests that no one provider offers enough to satisfy consumers. Juniper finds a growing danger in users reducing or switching SVOD subscriptions as monthly fees rise as a result of ever-increasing content spend; Netflix alone is set to spend $13 billion this year.”
The research also found that the curation of content is set to become a growing issue, with the need to engage consumers as critical, lest SVOD providers see unsatisfactory services cancelled. Juniper urges collaboration between OTTs and traditional platforms. For example, Sky hosting Netflix via its Q platform to offer a refined user experience.
The survey also identified the continued importance of broadcast. 40% of UK survey respondents stated that they stream live sports, yet only 6% of these individuals watch sports through online channels alone; consequently streamers continue to utilise broadcast sports.