In Hub Entertainment Research’s latest survey, 88% of entertainment consumers agree with the statement that streaming video subscriptions are raising their prices more than in the past, and three-quarters (77%) said budget is a main reason for not adding new ones.
Nevertheless, according to the report, complexity is as big of a barrier as cost. Three-quarters say it is too hard to keep track of where to find the shows they want to watch. At the same time, more than 80% say that there is a limit to how many subscriptions they can actually use, even if they could afford to have them all.
The end result, according to Hub, is that many are willing to pay for a simpler experience. In fact, 59% of respondents said they would be willing to pay for a “one stop shop” app – something that lets them manage, use and pay for all their subscriptions in one place, even though that would be above and beyond the cost of the subscriptions themselves.
“Viewers are excited about the volume of content to choose from. Their biggest problem now is figuring out how to use it all. Companies who can make entertainment simpler (through things like bundling or universal search) will attract more subscribers. But even more importantly, they will be offering a service for which many are willing to pay extra – a huge win for companies seeking to make streaming profitable,” said Jon Giegengack, Principal at Hub.
Companies who can make entertainment simpler (through things like bundling or universal search) will attract more subscribers.” Jon Giegengack Principal at Hub