How streaming services can exit the “content wars”—and win
Streaming platforms today are only as good as their last hit series. Subscribers know exactly what they want to watch, and once they’ve finished viewing, they see little reason to stick around for the long term.
In fact, recent research into streaming platform customer preferences conducted by Concentrix Catalyst found that 62% of respondents have signed up for a streaming service with intent to cancel after viewing a specific show. Adding to the challenge for streaming platforms is that 61% of subscribers tend to keep the number of streaming services they’re subscribed to constant—most customers cancel an existing service when subscribing to a new one.
To come out on top in the highly competitive streaming platform market, media companies must leverage the underlying principles of loyalty to insulate themselves from customer churn and shift the drivers of subscription renewal and audience growth. At its core, loyalty as a practice is focused on behavior modification, and it can unlock the sea change that streaming services need today.
Read more at Customer Think.
To learn more about streaming platform customer perceptions and preferences today and see how different platforms compare, download our Media Digital Experience Index.