Speculation: Consumers Are Thrilled with Exclusives and Big Budget Spending, So Thrilled ‘Their Heads Are Turning’ from Netflix
Hub Entertainment Research released their 2021 Conquering Content report, and the results of their consumer surveys serve as a comprehensive tip-sheet for industry analysts and executives. There were three key findings from the report: for the first time where consumers’ favorite shows are found is diversifying, streamers are happier than last year with content offerings and people subscribe for exclusives.
Netflix Loses a Key Foothold
For the first time since the report was launched in 2017, there was a decrease in the percentage of viewers whose favorite show was on Netflix. Other services like Amazon Prime Video and Disney+ have been bolstering their content offerings, and it may finally be paying off.
The tipping point isn’t as dramatic as Netflix’s competitors probably desire, but it is marked. In 2019, 34% of survey respondents said their favorite show was on Netflix. That number increased to 38% in 2020, but in 2021, that number for the first time decreased to 35%. Hub said that still, no other single service beats Netflix for shares of viewers’ individual favorite shows, but their combined offerings are cutting into Netflix’s leading percentage.
Content Investments Are Boosting Consumer Sentiment
Last year, only 47% of respondents said that “there are more good TV shows to choose from today than in the past,” but that number increased to 55% this year. It isn’t difficult to infer that this sentiment was boosted by recent influxes of investment capital into new content. Disney is planning to pay as much as $33 billion for new content across their streaming platforms next year. The pandemic’s push towards parallel theatrical and streaming releases has been a massive win for consumers who prefer to watch new movies at home. And the slow switch from cable to streaming is bringing with it more and more content that viewers are eager to enjoy.
Exclusives Drive Growth
A whopping 40% of those surveyed said they had subscribed to a service for a single exclusive title. This is great news for Disney+, who has the highest percentage of exclusive content, and Netflix, who is always upping the pace of their originals. Exclusives have been a hallmark of streaming strategy for a while now, but this report amplifies their importance and confirms that the content that makes a service unique also serves as their competitive advantage in the streaming wars.
Disney+
Disney+ is a video streaming service with over 13,000 series and films from Disney, Pixar, Marvel, Star Wars, National Geographic, The Muppets, and more. It is available in 61 countries and 21 languages. It is notable for its popular original series like “The Mandalorian,” “Ms. Marvel,” “Loki,” “Obi-Wan Kenobi,” and “Andor.”