UK consumers expect to have to pay £74 per month to get the TV shows, films and content they want, according to a new study commissioned by Amdocs.
The study reveals that UK consumers are not getting enough from their TV and video subscription services, and are demanding more personalised bundles. The survey, conducted by Vanson Bourne, sampled 1,000 UK viewers to gauge their attitudes towards TV subscription services, payments, and advertising, to learn more about the nation’s viewing habits.
Seventy per cent of UK viewers aren’t satisfied with the range of TV and video content they currently have access to, despite spending an average of £47 per month on TV, movie and video subscription services. In order to access the TV shows, films and live sports they want to watch on a regular basis, viewers believe they would need to considerably increase the amount they’re currently spending up to £74 per month or £888 per year.
The research reveals that the average UK consumer uses two TV subscription services, which can be complex and costly to manage. It highlights the need for a fresh approach to content provision, based on personalized and aggregated services.
Two thirds (68%) of UK respondents stated that they would be prepared to pay for a single provider that could package all of their preferred content into a dedicated bundle. A similar number (64%) said that they would be happy to ditch their current providers if this type of ‘perfect content bundle’ was available.
UK consumers also revealed the types of programming they’d most like to be included in their perfect, personalized bundle:
· 85% would include a binge-worthy TV series. This may well include Game of Thrones, which one in six consumers admitted they couldn’t live without.
· 73% would include access to live concerts and events.
· 68% would include access to all sports games from one specific team.
· 27% would include access to deleted scenes/blooper reels.
· 18% would include access to AR and VR enhanced content in films and TV shows.
· 54% of consumers would even be open to receiving more advertising, if they could personalize the products and industries advertised to them.
“We are in a golden age of content, with massive investment in original programming and new ways to consume it. But customers are still having to jump between TV applications and content providers to find the programming they want. This is confusing and frustrating,” said Gary Miles, CMO, Amdocs.
‘Furthermore, the monetization model varies a lot by service provider, but clearly we are entering an age of three primary models: a) pay per view; b) ad-funded and c) subscription. Helping consumers find their priority content with the right monetization mix which is simple and transparent will be the winning strategy. For sure, advertisements will help subsidize some of the consumption in many optimal mixes – so the strategy here needs to be fewer adverts, which are more relevant and therefore more valuable to all.”