Households Subscribing to Multiple Streaming Services Still on the Rise, Now Makes Up 55 Percent of Consumers
It’s no secret that streaming TV has become a staple, and as more and more services enter the space, people continue to indulge. According to Deadline, a new report by the Leichtman Research Group showed that 78 percent of households have a subscription to either Netflix, Amazon Prime Video or Hulu. The number is up from 69 percent in 2018 and 52 percent in 2015.
Moreover, the study also showed that the number of households subscribing to more than one of the three continues climbing as well. According to Leichtman Research Group, 55 percent of homes have more than one of the three, compared to 43 percent in 2018 and 20 percent in 2015.
The study also found that people are also up for exploring beyond just those big three. Users are also looking into newer services such as Disney+, HBO Max and BET+, with 82 percent of respondents saying they have at least one, while 49 percent have three or more.
“The adoption and use of these established SVOD services along with newer direct-to-consumer streaming video options have increased over the past year, spurred more recently by the impact of the coronavirus pandemic,” said Bruce Leichtman, president and principal analyst for Leichtman Research Group.
Leichtman Research Group also found that people are also engaging with their services more, with 40 percent of adults saying they stream an SVOD service, while the 18 to 44 demographic holds the largest number of streamers, accounting for 63 percent of daily SVOD users.
Interestingly enough, the study also found that SVOD services tend to co-exist with pay-TV in most households. Of the people surveyed, 58 percent revealed they have both SVOD and pay-TV subscriptions, while 20 percent said they have only SVOD only and 16 percent said they have pay-TV only. Six percent said they get neither.