Over-the-top SVOD services continue to stream into the market, including many niche offerings that can complement the broad offerings of Netflix, Amazon and Hulu.
However, those three services are already near the maximum of what consumers are willing to pay each month, according to a new study from GfK that compared its April 2014 survey of 1,002 U.S. consumers age 13-64 who use streaming services, with one done in March 2016 with 1,007 in that same demographic range.
That ceiling, GfK said, is set at $10 to $11 per month. Per its latest survey, consumers are willing to shell out $10.82, up 4% from its 2014 findings, compared to Amazon Prime ($9.10 per month, up 16%), and Hulu’s SVOD service ($9.96, up 1%). The survey also included that consumers would pay $3.06 for YouTube (up 81%), and $7.53 for access to TV Everywhere services (up 105%).
According to VideoNuze’s review of the study, GfK also found that the cost (79%) was the top reason for picking an SVOD service, compared to “availably of specific programs” (69%) and “availably of new movies” (68%), while original and/or exclusive content as ninth on the list of key attributes for an SVOD service.
Netflix, already tops with respect to its subscription base, also led in terms of time spent per day also led the way with 2 hours and five minutes, compared to Hulu (1 hour and 21 minutes), YouTube (1 hour and 15 minutes), TV Everywhere apps (1 hour, 13 minutes) and Amazon Instant Video (52 minutes).
The greatest percentage of consumers surveyed (33%) also said they used the service at least once a month to view TV shows or movies, compared to 23% for YouTube, 13% for both Amazon and TVE, and 12% for Hulu.
Among other findings, GfK said about half of streamers feel there are too many streaming services to keep track of, an indicator that there’s consumer interest in aggregation or bundling services “that will make their streaming life easier.”
Additionally, 81% of streamers said they want at least some curation, up from 68% in 2014. Just 18% said they prefer no curation.
The smarter way to stay on top of the multichannel video marketplace. Sign up below.
Thank you for signing up to Multichannel News. You will receive a verification email shortly.
There was a problem. Please refresh the page and try again.