A deep dive into consumer streaming habits reveals a new motivator for consumers when it comes to selecting their platforms. This week, Amdocs, a company that specializes in software and services for the media service providers, released findings from its New Streamer 2021 Report, and found that content drives consumer loyalty — not price.
According to 1,000 surveyed streaming customers, the biggest factors involved in choosing a streaming platform are:
- Amount of content: 49%
- Quality of content: 45%
- Price: 38%
The report continues, saying that consumers are interested in selecting specific shows from different providers and creating their own bundle — and users would even pay more for this feature.
This idea of a “content smorgasbord” is backed even further by the report’s findings that, despite a rise in streaming service subscriptions, consumers aren’t cord-cutting. “With only 8% of U.S. consumers canceling a satellite/cable subscription and 34% of U.S. consumers adding video streaming services,” the report said, “cord-cutting options are more of an addition to consumers’ personal content bundles, rather than a replacement.”
Streaming hours across the board were up in 2020, no doubt accelerated by the COVID-19 pandemic that forced millions inside their homes for an extended period of time. Nearly every streaming provider reported growth in their streaming hours over the past year.
You can view the full New Streamer 2021 Report by visiting Amdocs’ New Streamer site.