13 MAR 2024

Streamers struggle to find identity with consumers

A study by Hub revealed that, while users know the streaming services, almost 50% of them cannot explain what makes each unique.

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The annual "Evolution of Video Branding" study, conducted by Hub Research, revealed that differentiation remains a daunting task for streamers amidst a sea of choices. While nearly 100% of consumers are acquainted with major streaming services, almost half of them express uncertainty in articulating the unique attributes of each platform. Despite some improvement in comprehension for certain services compared to the previous year, others have hit a standstill.

In the absence of distinct brand identities, viewers are compelled to make decisions primarily based on the content offered. Almost 40% of viewers say they’ve signed up for a new subscription just to watch one piece of content, roughly the same proportion as in 2023 and 2022. Young people (50%) and households with kids (49%) are even more likely to sign up just to watch one show.

This reliance on content-driven subscriptions underscores the pivotal role of production and licensing decisions. In 2024, fewer respondents reported subscribing to Disney+ and Max to watch a single show. Conversely, Peacock experienced a notable uptick in subscriptions attributed to specific programming, particularly following the NFL playoffs, where viewers flocked to catch the Chiefs/Dolphins game.

Jason Platt Zolov, consultant for Hub, reflected on the evolving landscape, stating, "As major streamers strive to cater to diverse audiences, viewers grapple with identifying what sets them apart. Until streamers develop more brand-defining features, viewer loyalty is at risk and consumers will continue to churn as they chase shows across services.”

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