The streaming wars have hardly begun and a new study by Amdoc has found that 27% of consumers are already paying more than $100 a month on subscription services.
Amdocs said that while 59% of those surveyed said they were happy with their current subscriptions, it could be difficult to get them to spend more. That could be bad news for both established players looking to raise rates and new services looking to get consumers to try them.
The study found that 22% of consumers would consider adding another service, but only if something new came to market.
With more than 100 streaming services available, many consumers are feeling overwhelmed, according to the study. What they want is ease of use. A lot of them, 39%, would like to have all of their services bundled into one platform, with consolidated billing and universal search.
The biggest problem cited by consumers about having multiple services is remembering passwords.
Advertisers targeting U.S. consumers will likely face an uphill battle, the report said. When looking at the international respondent pool, the majority would be willing to receive advertisements if they were tailored to their specific interests. In the United States, this is not the case, likely because U.S. consumers prefer channels that often have limited or no advertisements, Amdocs said.
The Amdocs report is based on a survey of 3,400 consumers interviewed in August by Dynata. 1,000 of the interviews were done in the U.S. market.
Jon has been business editor of Broadcasting+Cable since 2010. He focuses on revenue-generating activities, including advertising and distribution, as well as executive intrigue and merger and acquisition activity. Just about any story is fair game, if a dollar sign can make its way into the article. Before B+C, Jon covered the industry for TVWeek, Cable World, Electronic Media, Advertising Age and The New York Post. A native New Yorker, Jon is hiding in plain sight in the suburbs of Chicago.
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