NAB Show
If five streaming video services is the limit for most
consumers, then which of the major platforms stand to lose out? AppleTV+, it
could be you, if a new survey is to be believed.
That’s partly because while original content scores highly
across the board — and that includes AppleTV+ — it is quantity, not just
quality, that counts.
None of the current top five — ranked in a new survey
from Whip Media as Netflix, Amazon, Hulu, Disney+ and HBO Max —
should be complacent.
“Staying in that group will depend on having an abundance of
both compelling original content and evergreen library content to satisfy users
when certain originals inevitably decline in popularity,” the company reported
after polling almost 4,000 users of its TV Time app in the US.
Among the key findings was that while streaming was
fundamentally popular, 70% of respondents felt that there were too many
subscription services on the market. The primary reasons for this were cost,
annoyance at switching back and forth between services to view content, and
difficulties in managing the services and choices. When asked if they could
only keep one streaming service, 41% of consumers said Netflix would be their
choice if they could only keep one; followed by Hulu (21%), HBO Max (13%),
Disney+ (9%), and Amazon (6%).
Churn is inevitable, but the top four services are pretty
similar in terms of respondents’ strong intentions to keep them, per the
report.
That includes Amazon Prime Video, despite the fact that user
satisfaction for the service is not as high as the others. This likely
indicates that Amazon subscribers are as if not more interested in accessing
rapid shopping deliveries than blockbuster content. The purchase of the MGM
library should help maintain its competitiveness, Whip Media notes.
Apple TV+ is in the most precarious position, the survey
suggests. That backs up a MoffettNathanson survey in January that found 62% of
Apple TV+ subscribers reporting that they are on a promotional offer, many of
which are approaching their expiration and leading to churn.
“Given the importance consumers place on having an adequate
library, it’s clear Apple’s deficiency in this area is limiting its appeal.”
Among the remaining services, Paramount+ and Peacock are
currently the most intriguing among the challengers, Whip Media finds.
“They have the libraries to compete with the big boys, and a
few originals, but they need more and are planning to make them.”
Discovery+ occupies a narrower niche with lower production
cost programming, and is less expensive than the others’ ad-free tiers, so it
may not need to be in the top five, the company states. The recent merger with
Warner Media also clouds its future: Does it continue in its current form, or
integrate into HBO Max?
Concluding, Whip Media, said that given the importance of
library content to the consumer, all of the platforms should be on the hunt for
evergreen shows and films to ensure they maintain market share while creating
their next original hit.
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