Consumers are overwhelmed by the sheer volume of content now available from streaming video providers and are increasing frustrated with the efforts needed to access it.
According to a new study by Interpret, US viewers are subscribing to an average of 4-5 SVOD services, with the majority also accessing multiple advertising-supported on demand services.
Over 20% of US consumers agree that they “subscribe to too many video streaming services.”
Among subscribers to streaming services, one-third express an interest in being able to manage and search for their available content from one place. Consumers want aggregation services to help remove pain points from the subscription process. They also expect bundled offerings to deliver greater value, as well as to improve account management, discovery, and content recommendation functionality.
“Addressing fragmentation will be tricky since there are so many service options, each with its own priorities relative to revenues, data, and audience. Yet, the companies that solve the aggregation puzzle have much to gain,” said Brett Sappington, Vice President at Interpret. “Successful aggregation of content and services will produce an improved, sticky customer experience and will drive subscription and ad revenue opportunities. It will also be important to mid-sized or smaller streaming services that cannot afford to out-market global or regional streaming giants.”
Ironically, streaming media players, gaming consoles, set top boxes, and smart TV interfaces, most consumers already have multiple potential aggregators in their homes. If they have gone so far as to have cut the cord, consumers may have left behind the aggregator that once did the job for them.