Viewers can’t seem to get enough of streaming services, and the number of subscriptions per household continues to rise. Between big name streaming services and and smaller, supplementary or niche offerings, consumers seem to have a hard time limiting which services they sign up for.
Data from Hub Research shows that the average number of SVOD sources viewers subscribe to is now 5.7 – up nearly double from that of 3 years ago in 2018.
“This year, the number of TV sources used by each viewer we surveyed hit an all time high: nearly 6 per person (and double the number used in 2018). The reasons for this: the launch of new, attractive streaming platforms; still more billions being spent on original content; and a pandemic that continues to keep viewers at home, with lots of time to kill.”
Out of those services viewers subscribe to, 40% of viewers are using three or more of the “Big 5” streaming service, including Netflix, Prime Video, Hulu, Disney+, and HBO Max.
“Today, 40% of viewers use three or more of the 5 biggest SVODs – a huge jump from 28% just one year ago. Each of these platforms offers thousands of titles: more shows and movies than the average person could watch, even if they did nothing else. The fact that many people are using them all underscores just how tight the competition for viewers’ attention and time has become.”
“As the TV experience evolves, SVOD ‘stacking’ has more impact than perhaps anything else. Viewers are excited about the vast amount of content to choose from. But they need an efficient way to manage all those platforms, which creates an opportunity for aggregators. And for those creating and marketing shows, the competition for each slice of disposable time is tighter than ever,” said Jon Giegengack, Hub Founder and Principal.