MacDirectory magazine is the premiere creative lifestyle magazine for Apple enthusiasts featuring interviews, in-depth tech reviews, Apple news, insights, latest Apple patents, apps, market analysis, entertainment and more.
Issue link: https://digital.macdirectory.com/i/1318513
completely complementary to each other,” said ViacomCBS CEO David Lynn. Most of the Pay TV cable bundle companies didn’t really mind that consumers cut, shaved or never had their service because firms like Comcast owned NBCUniversal, Peacock and Sky; and admit it, you did stick with them for their high-speed, reliable Internet service. “Each streaming service by itself is great,” said Allan McLennan, chief executive of PADEM Media Group. “However, people are getting to the point where they are being overloaded with subscription fee on top of subscription fee, as well as the subscription fee plus pay-per-view for special stuff. It makes them think of the ol’ bait-and-switch marketing of yester-year.” “No service has everything an individual or family wants to watch,” he noted. “For example, my wife likes a certain type/set of shows, our son has content he follows as well as game channels and I like specific genres. Trying to find something we all like at the same time is a challenge. “The same holds true for households around the globe and it can take 10-15 frustrating minutes for someone to find something they want to watch or settle on watching,” he added. “People are questioning their subscription budget and the real value of all of the great content selection,” he continued. “They’re yearning for a single content source solution but without the restrictive long-term contract.” According to GlobalWebIndex, 36 percent of the respondents said their growing list of streaming services is getting too expensive. Twenty-eight percent of UK and US users expressed frustration with the need for multiple services to access the content they want to watch. People have discovered they have to subscribe to four, five or more SVOD services just to assemble their own personalized content bundle. If the consumer is at their budget maximum and alerted to a new “gotta see” set of movies/TV series, they cancel their least-used service and add the new, more interesting service that better fits their needs. All of the streaming services are focusing on grabbing the other guy’s subscribers, creating churn in the existing streamer pond rather than developing long-term, increasingly profitable consumer relationships. Because of the explosion of content and the explosion of services, consumers are increasingly suffering from an explosion of confusion. “With more than 300 SVOD platforms in the US and 1000s globally, consumers are getting tired of navigating between multiple services to find the specific content they want to watch,” McLennan said. “People are finding they have to weigh the intangible of what content in service A is worth to them compared to the content on service B. “When the entertainment value shifts, consumers leave,”