Viewers Struggle to Differentiate Streaming Services, Pick Subscriptions Based on Individual Titles
American audiences are having a hard time explaining the difference between various streaming services like Apple TV+.
With the hundreds of streaming services available in the American marketplace, it can be difficult to tell which streaming services specialize in which types of content. It doesn’t help that most popular streaming platforms offer general entertainment to some degree or other, and new data from Hub Research is quantifying just how difficult viewers are finding it to tell subscription video streaming platforms apart.
- Hub’s data shows big gaps between the number of customers who have heard of various services and the number of customers who can explain what those services offer.
- Viewers are continuing to use individual shows and movies to differentiate streamers from each other.
- Paramount+ and Peacock are the two streamers that gained the most from customers signing up to streamers watch specific content, showing the power of the NFL.
Hub’s annual “Evolution of Video Branding” report shows that streamers have done a good job of making people aware they exist. All of the seven streamers included in Hub’s survey questions were recognized by more than 95% of respondents, but viewers are less confident in their ability to differentiate those services from each other. Netflix gets the highest marks in this regard, as 88% of its subscribers say they were confident they could explain the difference between Netflix and another service. Apple TV+ did worst, with just over half (51%) of respondents saying they could tell someone else what sets it apart from the competition.
Without clear distinctions between streaming services, viewers are often using individual shows or movies on a platform to tell it apart from its competitors. This leads to high rates of customers signing up to services specifically to watch a chosen title, and often it leads to higher cancelation rates because viewers don’t know what similar shows and movies are available on a service that they might enjoy once the show they came for is over. So far in 2024, 39% of audiences have signed up to a streamer to watch a single series or film, basically on par with the numbers from 2022 and 2023.
“As big streamers aim to be all things for all people, viewers are struggling to identify what distinguishes them from each other,” says Jason Platt Zolov, consultant for Hub. “Until streamers develop more brand-defining features, viewer loyalty is at risk and consumers will continue to churn as they chase shows across services.”
Which Services Gain the Most from Viewers Who Sign Up for One Program?
Hub’s numbers also demonstrate which streaming services gained the most from customers who only signed up for a streamer to watch a particular show. Entertainment streaming services like Netflix, Disney+, and Max have seen fewer customers signing up to their platforms to watch just one title in 2024 than they did in 2023, perhaps a sign that fewer scripted streaming titles are available thanks to the WGA and SAG-AFTRA strikes. A report from May of last year found that new scripted streaming commissions had fallen dramatically, and now audiences are seeing the effects.
Paramount+ and Peacock were the only streaming services included in Hub’s report that saw a rise in the number of customers coming to their platform to watch one program in 2024. Peacock’s success in this regard is most likely attributable to its exclusive NFL Wild Card game between the Miami Dolphins and Kansas City Chiefs on Jan. 13, which drove record sign-ups for the streamer. Live NFL games are likely responsible for the increased number of one-program signups for Paramount+, which hosted Super Bowl LVIII in February and announced that it was the most-streamed Super Bowl in history following the conclusion of the game.
So what can streamers do to help themselves stand out from the competition? Tubi recently participated in a survey with The Harris Poll that might offer some hints; for example, 74% of millennial and Gen Z viewers say they want to see more original titles and less franchise content/remakes from streaming services. The same percentage say they want to see more diverse and representative content on streaming platforms going forward.
It will be highly intriguing to see what various strategies streaming services pursue to differentiate themselves from the competition. Will Prime Video try to add NBA games in order to stand out? Will Max attempt to acquire smaller streaming services in order to get its hands on fresh intellectual property? There are limitless possibilities, but Hub’s data makes it plain that most streaming services need to do a better job differentiating themselves from the competition.
Amazon Prime Video
Amazon Prime Video is a subscription video streaming service that includes on-demand access to 10,000+ movies, TV shows, and Prime Originals like “The Lord of the Rings: The Rings of Power,” “Jack Ryan,” “The Marvelous Mrs. Maisel,” “The Boys,” and more. Subscribers can also add third-party services like Max, Showtime, STARZ, and dozens more with Amazon Prime Video Channels. Prime Video also offers exclusive live access to NFL Thursday Night Football.