Why It’s Not GAMEOVER For Streaming Services

At least not yet...

THE TAKEAWAYS

+ Less Is More: Yeah, people are cancelling their accounts, but they aren’t cutting them out entirely. In fact, streamlining subscriptions will mean more eyeballs on less content.

+ Virality Is The Answer: When a show hits the big time (hello Stranger Things and Squid Game) it can trend across the world.

+ Raise Awareness: Streamers have the eyes, ears, and fingertips of a content-hungry community. They should use them.

We’ll level with you, streaming services are having a sh!t 2022.

We’ve seen the headlines – 35% of  Americans have cut costs  by cancelling streaming services while 36% are considering doing the same. Netflix has lost over 200,000 subscribers since the beginning of this year, for the first time since 2011. But this isn’t the whole story.

Viewers are still planning to tune into 437hrs of content per year – that’s over 18 days of binge-watching.

While the cost-of-living crunch and looming recession has seen 800K households hit cancel, the average person is only dropping three of their five subscriptions.

In other words, we’re cutting down, not cutting out, on our fave services.

The competition to be the last service standing is fierce.

Affordability is one major factor for customers, but so is quality content. This is where influencers step in.

With 61% of consumers trusting influencer recommendations and marketers believing that 60% of influencer content performs better than branded, there’s a huge opportunity to leverage their network.

But First… The 411 On Streaming Wars

Netflix launched in 2011 and it’s become the GOAT of streaming sites. It changed the game in how, where, and when we consume TV.

Famously, it uses metrics similar to our favourite social platforms to produce and showcase content i.e. it checks what’s performing best and then presents that at the top of their subscriber’s feeds.

Following Netflix’s lead, other streaming services have popped up over the years, each with a slightly different offering.

There’s Amazon Prime, Disney+, Hulu, HBO Max, Paramount+, and Apple TV+.

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THEN sh*t hit the fan.

Streamers have been forced to change the game…again.

First, Netflix announced it would create cheaper versions with ad breaks and a pay-per-login model. Sounds a lot like traditional television, doesn’t it?

Meanwhile, Amazon and Disney+ will have a price hike to combat inflation. But even still, we keep coming back.

Looking into our crystal ball, we’re expecting to see these four trends:

 

1. Ad Breaks Will Be Back

New cheaper subscription services with ad breaks will mean the on-demands will sell our attention to the highest bidder.

2. One-Stop Streaming Shops

Customers want subscriptions to bundle together all the ad-ons. Goodbye, a thousand services, hello, one MVP streamer.

3. Going Viral On Social

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Here’s how to tag them in:

+ The Sound of Social: Craft a campaign around the show’s soundtrack with influencers teed up to create content off the back of it.

+ Interactive Endings: Influencers can start the social convo by letting their audience choose the plot of an upcoming show.

+ Influencer-Led Watch Parties: Watch along in real-time for your favourite influencer’s hot takes.

+ Influencer Curated Feeds: Call on community leaders to create and recommend watch lists.

+ Create Employee Brand Ambassadors: Let us tool up your in-house experts to become influencers themselves. Two birds, one stone.

If you’d like to boost awareness of your next series, or you’re looking for your big debut, drop us a line at info@seenconnects.com.

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