Not too long ago, the only viable option for watching video in the home was to subscribe to a cable or satellite TV provider. Sure, there was the fringe population who cut the cord and either relied on over-the-air (OTA) network broadcasts or streamed Netflix onto a PC that would then be connected via a mess of cables, software and converters to a television or projector (phew!). The rest of us, however, were at the mercy of the cable and satellite companies, and virtually every satisfaction study conducted shows that customers have not been happy with these providers for a very long time.
Today, the way people are watching video is changing. With the availability of lightning-fast internet connections at home and away, and availability on multiple devices (including a strong penetration of Smart TVs), video providers have been increasing their video streaming offerings. This proliferation has accelerated in the past 12 months as nearly a dozen new streaming video services have launched – many from big household brands like DirecTV/AT&T, Xfinity, Facebook, Spectrum and YouTube – all of which share a common feature: live video streaming.
This certainly makes sense – consumers want to spend less and have more control over what they watch and when they watch it. However, our latest syndicated research report, StreamOn™: Understanding the Video Streaming Consumer, reveals that these live streaming solutions are not capturing the hearts and minds of consumers despite aggressive advertising and marketing campaigns. In fact, unaided awareness for these new solutions is in the single digits, and consideration is not much higher for most.
How can this be? Shouldn’t consumers be ecstatic with this new medium for getting their TV fix?
In actuality, these offerings aren’t tuned in to what consumers want. Over the past decade, consumers have changed the way they watch TV. Except for specific genres like sports and news, the days of “appointment television” are gone. Most people have replaced live TV with on-demand and DVR features, allowing them to “time-shift” their viewing so they can watch on their own schedule.
StreamOn research shows that it is likely a mistake to “port” the traditional pay TV paradigm to an online delivery mode. What is really needed is a new model that fully addresses the needs (and, most importantly, the unmet needs) of the video consumer. Some video providers are proving to be more successful at this than others. And success begins with an understanding of the video streaming market and the consumer through customer experience research so scarce resources are channeled to the most impactful features and content.
As is often the case, knowledge is power. StreamOn addresses the needs and wants of the video streaming consumer through segmentation research and evaluates how well each of the major service providers are addressing these needs. Topics include:
- A comprehensive market landscape overview
- Traditional and streaming product usage and adoption
- Streaming device usage and adoption
- Streaming video purchase funnel
- Met and unmet consumer needs
- Competitive product analysis
- Evaluation of the three different types of streaming customers
- Price elasticity and sensitivity
- The role of traditional cable and satellite TV in a streaming world
- The ideal streaming service of the future
- Perceived market directions
- Recommendations to video service providers
We invite you to preview our research. It may just be the edge your company needs to deliver the impactful video services that consumers have been waiting for.