While the streaming wars are beginning to get more intense, with competitors such as Disney+, Apple TV+, HBO Max and NBC Peacock on the horizon, consumer habits reveal there may not be a scenario where one company loses out more than the other.
According to a consumer survey from Parks Associates, the number of US households with two or more streaming services has increased at an exponential rate over the last half a decade.
2019 has seen just under half of US households with broadband holding subscriptions to two or more platforms, compared to 33% in 2017 and 20% in 2014.
Senior analyst Steve Nason said that most households making use of such services are using one of the three major providers – in other words, Netflix, Hulu or Amazon Prime Video. However, instead of shunning one provider over another or ditching a subscription when a new one comes along, consumers are using multiple subscriptions to ensure all of their content interests are being met.
However, smaller streaming services which provide niche content could struggle to keep up with the resources and capacity major new competitors have. Nason went on to say: ‘Netflix can afford to license high-value content like ‘Seinfeld’ to supplement its original content, and Apple can buy commercial space during the Emmys and NFL games to promote its upcoming Apple TV+ service and its array of content and stars.
‘By contrast, smaller OTT services are having to harness the power of a partnership with an aggregator, bundling or content partner, or marketing and promotion partner to boost awareness of their brand and offerings.’
Read more about the survey here.