Cord Cutters Are Cutting Streaming
The average person expects to stream more than 290 different movies or TV shows this year, new research suggests. Regardless of what they’ll be watching, people think they’ll stream 437 hours of content in the year ahead, equivalent to more than 18 full days.
A recent survey of 2,000 U.S. adults found that people are reevaluating what streaming services they pay for, with 57% planning to cut some of their paid streaming subscriptions and the average person dropping three out of about five from their arsenal.
Those who have paid TV and video services don’t anticipate using or plan to bid adieu to subscription video-on-demand services, such as Netflix and Amazon Prime (75%), as well as satellite TV (61%), pay-per-view services, including Apple iTunes (52%), and cable TV (48%).
Conducted by OnePoll on behalf of Tubi, the survey found that seven in 10 cited changes to their financial situations as a reason to reevaluate their streaming service spending.
Aside from budget, respondents cited other factors that would make them pull the plug on a streaming service, including a limited selection of titles (49%), lack of a user-friendly interface (34%) and poor customer service (33%).
Forty-four percent said they’d stick with an unsatisfying streaming service for only a week before canceling it.
What would keep people loyal to a service? Affordability (45%), a wide selection of content (44%) and a user-friendly interface that makes it easy to discover movies and shows (43%).
“While people are looking for ways to cut back on their streaming expenses, they still plan on watching many hours’ worth of content this year,” said a spokesperson from Tubi. “To capture the attention of and retain those viewers, streaming services need to focus on affordability, a wide selection of content, and a great user experience.”
An attestation to the idiom “variety is the spice of life,” 36% of those polled would drop a service that didn’t have a large enough library of content to choose from.
In their hunt for a streaming service, people usually search for one that carries a specific series or movie (59%) or that is the most affordable (57%), and more than three-fourths have tried a streaming service because it carried a particular movie they were looking for.
When it comes time to choose what to stream, 59% look for titles tied to holidays, such as Halloween or Valentine’s Day. More than half also browse a service’s home page and decide, based on their mood.
“According to a quarter of respondents, the future of streaming will include free services with limited ads,” the spokesperson added. “Luckily, the future is already here — there are options currently available that offer a wide selection of content without needing to log in or sign up when you use it, and have minimal ad interruptions.”
TOP FACTORS IN CHOOSING A STREAMING SERVICE
A wide library of content across different genres and subgenres – 42%
Free/affordable – 38%
Original content – 37%
The service has movies/shows everyone’s talking about – 37%
Content that reflects my community as it pertains to race, sexuality, religion, etc. – 36%
A user-friendly experience – 33%
Diverse content – 32%
Nostalgic/classic library content – 30%
5.6 new movies/TV shows a week x 52 weeks in a year = 291.2 new movies/TV shows
8.4 hours of movies/TV shows a week x 52 weeks in a year = 436.8 hours (18.2 days)