New Study Says Most Consumers Pay for a Maximum of 3 Services, Placing Newer Streamers at a Disadvantage
With the streaming wars raging, each of the major services is competing to make sure they get into most households. However, according to a new report by Visual Objects, that may be harder to do for the newer services. The study found that 76 percent of consumers max out at three services in their households.
Breaking down those numbers, the survey found that 50 percent of people will pay for two to three streaming services while 26 percent will pay for one. A measly 16 percent of consumers will invest in more than three services.
The study also found that 73 percent of consumers invest $50 or less per month for streaming services. With streaming giants such as Netflix, Hulu and Amazon Prime Video already staples in most households, newer services may not fit the bill seeing as though only 20 percent of customers are spending more than $50.
Earlier this year, a survey by Ampere Analysis, found that more U.S. customers are paying for three or more streaming services. The Wrap pointed out that 39 percent of people in the survey paid for at least three services in 2019, a six percent hike from 2018.
Ampere also found that the adding of streaming services is increasing internationally. In Europe, the number of households went from 16 percent to 22 percent with at least three subscriptions between 2018 and 2019. Ampere expects consumers will continue adding on as streaming services continue flooding the market.