Almost 30% of Viewers Will Reportedly Sign Up for a New Streaming Service to Watch 2024 Olympics
Almost 30% of Viewers Will Reportedly Sign Up for a New Streaming Service to Watch 2024 Olympics
New data from Bango shows that Peacock could be in for a big wave of new signups this summer.
The 2024 Summer Olympics in Paris promise to be one of the biggest sporting spectaculars in recent memory and NBCUniversal’s coverage of the games will reflect that. The longtime Olympics broadcaster has promised that in addition to its flagship coverage on NBC, for the first time ever, every single event will be available to watch live on NBCU’s streaming service Peacock. Lest there be any doubt that audiences will respond to this availability, a new report from Bango shows that a significant portion of viewers plan to subscribe to a new streaming service specifically to watch the Olympics this summer.
Key Details:
- Bango found that 29% of viewers will subscribe to a new streamer to watch the games, and the number rises to 66% among current sports streaming customers.
- Sports fans are willing to adopt more streamers and pay more for them than the average audience member.
- More than three-quarters say they’d pay a higher monthly bill to be offered an all-in-one sports streaming platform offered by their mobile provider.
Bango’s data indicates that Peacock could see a sizable influx of new customers when the Olympics start in July. Its numbers show that 29% of respondents plan to sign up for a new sports service to watch the games, and that number jumps to an astonishing 66% among viewers who are already subscribed to one sports streaming service.
Peacock is no stranger to attracting new viewers thanks to its lineup of popular sports events. In January, the streamer carried an exclusive NFL Wild Card game between the Kansas City Chiefs and Miami Dolphins that reportedly brought some 3 million new subscribers into the fold.
The Olympics could have a similar effect on Peacock’s subscriber base, which currently stands at 34 million viewers. The streamer will surround the events themselves with highlights and analysis, and will also provide a whip-around show in the style of NFL RedZone, appropriately dubbed “Gold Zone” and hosted by Scott Hanson. If this is successful, it could bring a new and loyal group of customers to Peacock; Antenna found that 78% of viewers who signed up to watch the Wild Card game in January remained subscribed one month later. The timing of Peacock’s recently-announced price increase could vault the service to new revenue records if it does see a big subscriber gain thanks to the Olympics.
All-In-One, or One for All?
Bango’s data also had some implications for the sports streaming joint venture planned for release in fall 2024 by Disney, Fox, and Warner Bros. Discovery. It found that 87% of fans who pay for a sports streaming service already say they want an all-in-one platform that offers every sports event they want to see. More than half (55%) say that they’ve resorted to piracy to watch their favorite content.
“When half of all sports fans admit to online piracy, you know something’s gone wrong,” said Bango CEO Paul Larbey. “Clearly there’s a huge demand for sports streaming, but the current lack of centralization is undermining this incredibly valuable market.
That’s why the JV could be so key for sports fans. While it won’t offer all live events from major sports leagues, various estimates have pegged as the service carrying between 50% and 85% of sports content on TV in the United States within the 14 channels that will be included. Significant omissions include CBS’s Sunday afternoon NFL package as well as content found on regional sports networks, but Larbey says the service could point the way to other cross-company channel bundles.
“This fragmentation means that new alliances are forming among competitors,” Larbey said. “The combined effort by ESPN, Fox, and WB Discovery to build a single sports streaming platform is just one example, but we predict other collaborations will continue to define this space.”
Viewers are willing to pay more to access these services. Bango’s data points to this fact, as it found that the average sports streaming customer pays $120 per month for all of their subscription services, 66% more than the average subscriber in the United States, whose monthly bill is at an average of $77. Seventy percent of Bango respondents say they want an all-in-one sports streaming service managed by their mobile provider, and 76% say they’d be willing to pay a higher bill to get it.
“Super Bundling finally brings that level of flexibility to the sports industry by collating disjointed services into one singular platform,” Larbey explained. “Already, Verizon is bringing multiple SportsVOD services under one roof, including the NBA and NFL+, as well as sporting news subscriptions like The Athletic. This approach puts the subscriber first, creating the opportunity for people to mix and match. That’s good news for sports fans and will bring more paid subscribers to the sports broadcasting industry as a whole.”
Peacock has less time for such big-picture questions at the moment, as its coverage of the 2024 Summer Olympics in Paris starts in just over two months. Bango’s data shows that Peacock could see a big jump in subscribers thanks to the games, which combined with a price increase that will take hold just before the games begin will help the service in its quest to become a profitable part of the Comcast business empire.
Peacock
Peacock is a subscription video streaming service from NBCUniversal that includes original shows, blockbuster movies, and classic television series. Peacock is home to “Yellowstone,” “The Office,” and original hits like “Poker Face” and “Bel-Air.” You can also watch live sports and NBC programming, including the NFL, MLB, WWE, the Olympics, the Premier League, NASCAR, the French Open, college football and basketball, and the PGA Tour. Premium Plus subscribers can stream their local NBC feed in all 210 markets.