The report added that customer acquisition is expensive, and keeping them engaged even more so. Viu is one of the first casualties in this space, having exited from its India play. Hence, any user studies - no matter from which part of the world - are useful to get some insights into how the customer is reacting to the plethora of choices on offer. Recently, US-based research agency launched Streaming Wars - a special edition of its Nielsen Total Audience Report.
As per report, US consumers in OTT-capable homes are spending 19 per cent (nearly one fifth) of their TV time streaming content, be it through ad-supported or paid subscription models.
The report said: “That’s a hefty amount of the already large media diet of audiences today, especially considering that the medium has only existed for a relatively short period of time. Not to mention, it’s a prime opportunity to easily reach consumers in the digital age, using interfaces that feel familiar and comfortable to them.”
As per report, content has always been king, but with the growth of streaming, content creators and rights owners are effectively given more power. Platforms must be able to maintain the programs that audiences want while offering compelling new ones to keep them interested. Wherever good content goes, subscribers will follow. When that content runs out, don’t be surprised when some of the subscribers do too: 20 per cent of consumers said they cancelled a service after watching all the content that they were interested in.