What Consumers Really Want in a Streaming Video Service
In a recent edition of Digital media trends survey, conducted by Deloitte’s Technology, Media & Telecommunications practice, American consumers answered some questions about their own media and entertainment experience. The purpose of the survey was to determine which one among pay TV, streaming video services, streaming music services, and Gaming was the first choice of the consumers.
As we wrote about last time, streaming video services are having the upper hand for the first time in history, but how do consumers choose among hundreds of options?
According to the survey, the main motive behind a choice is exclusivity: a consumer is ready to pay for a streaming video service if it provides him with shows that he can’t find anywhere else.
Nevertheless, these services can’t be always perfect. According to the same survey, when asking the surveyees what frustrate them about it, the 3 recurrent answers were:
When shows are being removed from the streaming services:
The variety of shows can be the main motive for their subscription to a certain provider. When the choices reduce, the value proposition is not the same anymore and the views may have a wandering eye to reaching out to competitors.
When the show is hard to find:
In that case, the viewer needs multiple subscriptions to be able to watch what they want and that’s not what they signed up for in the first place.
When Data security becomes critical:
Consumers are worried about identity theft and are skeptical about giving away their private data, in the fear of financial loss. That’s why they want to have total control over their data the same way they’re controlling their entertainment experience.
Having too many options is both bliss and hurdle and while video streaming, music streaming, and gaming platforms are more or less new to the market and consumers have the flexibility to select from hundreds of services. It became hard to go a day without them.
In general, consumers admit that they are getting what they want from video streaming services but the effort it takes to get it is frustrating. They want the ability to customize their entertainment experience with a list of options without having to go through the funnel of too many subscriptions, too many ads, too much digging and the threat of their data being misused.