2024 saw a bounce back to an average of 7.4 services used, after a dip in 2023, as reported by Hub Intel's annual “Best Bundle” study. The report tracks the services that form the foundation of consumers’ bundles, the ones that serve as add-ons, and how these metrics change over time.
The number of viewers "stacking" three or more of the major streamers (Netflix, Amazon Prime, Disney+, Hulu & Max) grew to half of users in 2024, with even more growth coming from the nearly two-thirds of people using FAST services (like TUBI or Pluto) to round out their TV diet.
Despite growth in using multiple services, consumers aren't necessarily keeping them for the long term. "Revolving door churn" is seen in roughly a third of viewers who say they intend to both add and drop services in the next six months. These people are chasing specific programs or a promotional deal and then cancel services until something else catches their eye.
Short-term subscriber mentality makes managing multiple services more challenging than ever and creates opportunities for studios to better bundle subscriptions. Nearly three quarters of consumers find a service that could help to manage multiple subscriptions in one place as appealing.
“Consumers are overwhelmed by the fragmented landscape of streaming services and are well-positioned to migrate to more streamlined solutions,” said Jason Platt Zolov, consultant for Hub. “New streaming bundles recently announced are a step in the right direction – and those which communicate a clear price/value solution will be well-positioned to help stabilize challenges with churn.”
The growth of free ad-supported streaming TV (FAST) services and more sports content migrating online continue to complicate the viewing landscape. Hollywood is responding with new bundles from distributors (Comcast, Charter, others) and streamers (Disney, Netflix, Max, others), bringing together services into more simplified bundles to improve loyalty. Multiple streaming services are still needed to replicate the "all-in-one" of cable TV days of yore, and viewers increasingly sense the many monthly subscriptions hitting their credit cards are outpacing their ability to keep track.