Nielsen recently released the results of their Total Audience Report for February. The report looks at the volume of content currently available on AVOD and SVOD streaming services, and shows that, despite what we’ve heard from cord cutting critics, consumers want more.
According to the results of a survey within the report, 19% of all TV activity is streaming content. Nielsen says that 93% of streaming service subscribers are planning to maintain their current number of streaming services or increase the number of services they use. 47% of consumers between ages 18-34 are already using 3 or more services.
Whether streaming services have been around since the beginning or have only recently launched, it’s clear that delivering fresh, interesting content is the way to attract and maintain subscribers.
“Platforms must be able to maintain the programs that audiences want while offering compelling new ones to keep them interested,” Nielsen wrote in the report. “Wherever good content goes, subscribers will follow. When that content runs out, don’t be surprised when some of the subscribers do too: 20% of consumers said they canceled a service after watching all the content that they were interested in.”
Those services that can’t produce fresh content consistently may feel the effects of increasing competition. We recently reported on a study from Piplsay showing that 37% of Americans have subscribed to Disney+. Of those who have subscribed, 36% have unsubscribed to other streaming services like Netflix and Amazon Prime after beginning their Disney+ subscription.
While consumers have shown that they want to see more content, cost continues to be the motivating factor in choosing and dropping services. 42% of Nielsen respondents said they cancel a service when what’s being offered doesn’t justify the cost.
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