More than 9 in 10 TV viewers are aware of each of the major streaming video services, ranging from Netflix (98%) to Paramount+ and Discovery+ (each at 93%), according to survey results [excerpt download page] from Hub Entertainment Research. However, far fewer feel confident that they could explain to someone else what each platform does best, or how it’s different from the others.
With growing competition in streaming services and difficulties with value propositions, exclusive content becomes more important and is “often the deciding factor,” per the Hub analysts. This year, some 41% of respondents say that they’ve signed up for a service to watch a specific show. That represents an uptick from 36% last year and 35% the year prior. Notably, exclusive content is more important to some TV viewers than others. For example, fully 57% of respondents ages 16-34 have signed up to a service to watch a specific show, almost twice the proportion (30%) of those ages 35 and older. Additionally, 54% of those with kids in the household have signed up in order to watch a particular show, versus 34% without kids in the household.
Previous research from Hub has found that once viewers have been lured in to watch a specific show, a strong majority (77%) say they have kept the subscription after the show ended. More recently, original content has also been shown to have an impact on free, ad-supported services: almost half (47%) of FAST users would be more likely to use a FAST service if they heard it was producing original content.
This latest study also reveals that taking IP from other entertainment categories can be “an effective way to brand and differentiate new shows.” Among 16-24-year-olds, 72% would be more likely to watch a new show based on a movie they liked, and 62% based on a book they’ve read. A smaller majority of 35+ viewers would also be more likely to watch a new show for these reasons.
While about half of both groups agree that they would be more likely to watch a new show based on characters spun off from existing shows, there’s a dramatic divergence when it comes to video game IP. Fully 6 in 10 16-24-year-olds would be more likely to watch a new show based on a video game they’ve played, 3 times the share of those ages 35+ (20%).
For more, download a report excerpt here.
About the Data: The results are based on a February survey conducted among 2,400 US consumers with broadband, age 16-74, who watch at least 1 hour of TV per week.