A survey has revealed that more US customers are forking out for three or more streaming services as new platforms join the industry. The Wrap has reported that 39% of those in the survey were subscribed to a minimum of three services in 2019.
The data, gained from Ampere Analysis, also showed that European households are following a similar pattern, with 22% of households shelling out for at least three subscriptions in 2019.
Using this data as an indicator, it would be reasonable to estimate that people will add streaming services to their monthly budget as new platforms enter the industry.
Minal Modha, an analyst at Ampere, said: ‘While cord-cutting is a major issue in the USA, it has been a less significant challenge for the industry in many international markets.
‘However, our research shows that consumers in many global markets are increasingly combining SVoD products with a free broadcast TV service, placing future a growth obstacle in the path of incumbent pay TV service providers.’
The streaming industry has received announcements for an influx of new services over the last few years, with Netflix, Hulu and Amazon Prime Video seeing competition from Apple TV+, Disney+, HBO Max and Peacock.
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