A new report from Nielsen suggests that the growing number of available paid streaming services on the market are not causing a kind of fatigue. It found that those households with streaming services were spending about a fifth of their TV time streaming content. It found that 60% of Americans subscribe to more than one paid service and that 93% of U.S. consumers would either increase or keep their existing streaming subscriptions.
In Q4 2019, the most popular video streaming services were Netflix (31%), YouTube (21%), Hulu (12%), and Amazon (8%). Other providers made up 28% of the market share. Nielsen found out what factors played a part in people’s decisions to choose certain providers, the top five were cost (84%), ease of use (81%), variety/availability of content (79%), streaming/playback quality (77%), and the speed (74%).
In its report, Nielsen also wanted to find out why customers decide to subscribe to additional services. The agency said:
“While [there are a] myriad [of] attributes that make a streaming service attractive to users, the content is what ultimately gets them to type out their credit card number and hit “Enter.” The top four reasons as to why survey participants decided to subscribe to additional streaming services were all content-based, with the top reason being to expand the content that they had available.”
Ultimately, the report highlights the need for streaming firms to keep their content fresh and stocked with quality programmes if they want to remain relevant. It found that a huge 20% of consumers had cancelled a service after watching all the content they wanted to see, so keeping new shows coming will be key to holding onto these people.
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