Household budget limitations, the rising price of streaming subscriptions and complexity are contributing to consumers tapping the brakes on growing their lineup of streaming video entertainment, according to the latest research from Hub Entertainment Research.
The Hub’s semi-annual “Battle Royale, revealed 88% of consumers say streaming video subscription services are raising their prices more often in the past, while 77% point to their budget as the main reason they have chosen the number of entertainment sources they consume.
Even if price and budget restrictions were removed from the equation, the sheer volume of content available is limiting how many services people believe they need. The survey from 81% strongly agreed or somewhat agreed that there is a limit to the number of entertainment sources they need, even if were possible to afford them all.
The survey also found nearly three out of four consumers said it is too hard to keep track of shows what shows are available and where to watch them.
Fifty-nine percent said they would be willing to pay for a “one-stop shop” app that would allow them to manage, use and pay for all of their subscriptions in one place—even if it meant an additional charge above the cost of their subscriptions, the researcher found.
“Viewers are excited about the volume of content to choose from. Their biggest problem now is figuring out how to use it all,” said Jon Giegengack, principal at Hub. “Companies who can make entertainment simpler (through things like bundling or universal search) will attract more subscribers. But even more importantly they’ll be offering a service for which many are willing to pay extra—a huge win for companies seeking to make streaming profitable.”
The findings are based on a survey of 2,972 consumers conducted in October.
More information is available on the company’s website.
