Given the overcrowded nature of streaming, it’s easy to get confused. This becomes even more true as companies plan to merge and integrate streaming services into single platforms. The issue is that while most consumers are aware of the main streaming services, far fewer were confident that they know what each service is known for or how it differs from others.
According to a new study from Hub Entertainment Research, over 90% of consumers had brand awareness for several major streaming services, including Netflix, Prime Video, Disney+, and HBO Max, but the level of understanding that people have for these brands is significantly lower. Nearly all respondents knew what Netflix was, but only 79% understood what separated the streaming service from its competition. On the other end of the spectrum, most (93%) knew about Apple TV+ but less than half (46%) could explain it to others.
Because there are so many different platforms and it is increasingly difficult for consumers to tell them apart, exclusive content frequently makes the difference. This has become more and more evident as 41% of customers have subscribed to a service in order to view a particular show, up from 36% in 2022.
More than half of younger viewers (57%) and those with kids at home (54%) are more likely to sign up for a streaming service to watch one specific show than older viewers (30%) and those without kids (34%).
Franchises and familiar intellectual property are particularly appealing to consumers. For example, 29% of respondents have watched “Yellowstone,” and among those, a total of 70% have watched other shows by creator Taylor Sheridan. This includes “Yellowstone” prequels “1883” and “1923” and non-Western themed series like “Tulsa King” and “Mayor of Kingstown,” according to the report.
Companies have already begun utilizing franchises and IP to attract consumers. Sixty-four percent of new scripted subscription video-on-demand (SVOD) originals last year were based on adaptations, franchises, and other types of pre-existing IP, according to Ampere Analysis. These figures will only grow as companies continue to bet big on franchises.
Showtime is already preparing expansions of the “Billions” and “Dexter” cinematic universes, and Warner Bros. Discovery has also committed to more “Harry Potter” and “Lord of the Rings” content.
IP taken from other categories is also effective at driving interest. More respondents are likely to watch a TV show if it’s based on a movie they have watched or a book they’ve read. Video games are also a popular reason for younger viewers to watch a TV show, as evidenced by the monster ratings of “The Last of Us” on HBO.
While it can be confusing in an oversaturated market at the height of the so-called streaming wars to figure out what makes one service different from another, content is king. You may not be able to debate the ins and outs of why one streamer is better than another, but pointing to a specific example of content helps cut through all the noise.
Max
Max is a subscription video streaming service that gives access to the full HBO library, along with exclusive Max Originals. There are hubs for content from TLC, HGTV, Food Network, Discovery, TCM, Cartoon Network, Travel Channel, ID, and more. Watch hit series like “The Last of Us,” “House of the Dragon,” “Succession,” “Curb Your Enthusiasm,” and more. Thanks to the B/R Sports add-on, users can watch NBA, MLB, NHL, March Madness, and NASCAR events.