Netflix is increasingly competing in its territory, and even lost subscribers during the second quarter of 2021. But the service maintains a strong notoriety among US users in a context of very tough competition with the studios that have invested heavily in their SVOD services. this year.
5 SVOD services per household
The study indicates that respondents own an average of 4.7 SVOD services and do not plan to add more than one more. This sets the maximum size of the US SVOD market at 5 services per household. The main studios have launched their offer, launched exclusive productions of movies and series. Now begins a period in which only the strongest services will survive.
Churn, the enemy of SVOD platforms
As a result of this increasing competition, casualties tend to increase: therefore, 32% of respondents indicated having canceled an offer in 2021. All services are relatively stable, Apple TV +, Disney + and Netflix have registered the highest cancellation rates, just 6% each. 70% of those surveyed consider that there are too many services on the market and that SVOD ultimately transmits negative messages: too expensive, boring to constantly switch from one service to another, too many accounts to manage, too difficult to find the movies and series you are looking for.
Despite this, Netflix remains the essential SVOD service for the vast majority of respondents. Hulu follows Netflix, possibly due to the fact that some subscribers have access to live linear channels. Disney +, despite having high levels of satisfaction, is not registered as the main service that consumers would maintain. Discovery +, Paramount +, Apple TV + and Peacock follow from a distance, proof that all of these services must do more to convince consumers of their value.
Netflix is the essential SVOD service, but HBO Max wins in the satisfaction index according to the survey: no doubt because HBO Max has offered all of Warner Bros. ‘2021 room offerings in streaming. At the other end of the spectrum, we find Apple TV + that continues to disappoint due to the weakness of its catalog, although some programs are popular, such as “Ted Lasso”.