Is there a limit to the number of streaming services a person is willing to sign up for? 82 percent of consumers surveyed by Hub say yes. Already, its studies show consumers are looking for ways to simplify their streaming experiences in an era of easy access and an abundance of platform choices.
Hub states “Complexity is as big of a limitation to new subscriptions as cost,” with 82 percent of respondents claiming budget is one of many factors contributing to selecting a platform. The study showed that even if consumers could afford to subscribe to every platform, there’s still a clearly defined limit to the number they’re willing to have on board.
Roughly half of consumers’ “total entertainment ecosystem” are considered must-haves. These include video, audio, gaming, social media, podcasts, reading, and other categories of entertainment. Hub reports the average household uses 12.7 different sources, which is consistent with last year’s findings. Households with kids used an average of 16.3 sources, while younger consumers used around 15.8 sources.
Of these entertainment sources, respondents reported only half to be vital to their households and the rest as perks they could live without if needed.
The full Hub report breaks down the numbers into demographics:
- Ages 18 – 34: 7.8 “must-haves” and 8.0 “nice to haves”, totaling 15.8 sources
- Ages 35+: 5.0 “must-haves” and 6 “nice to haves”, totaling 11 sources
- Men: 6.4 “must-haves” and 7 “nice to haves”, totaling 13.4 sources
- Women: 5.7 “must-haves” and 6.3 “nice to haves”, totaling 12 sources
- Households with kids: 8 “must-haves” and 8.3 “nice to haves”, totaling 16.3
“Consumers are using many sources, but only half of them are considered essential: the others are at risk of being cut. But the data also show the opportunity for companies that can simplify the user experience. Complexity is as big an impediment as cost – and for companies trying to maximize their bottom line, creating a simpler experience should be more palatable than cutting their price,” said Jon Giegengack, principal at Hub and study co-author.
The study reviewed surveys from 3,000 U.S. household entertainment deciders with broadband between the ages of 18 and 74 as part of Hub’s Battle Royale – Wave 3 report.