To current subscribers, it seems like renewing their yearly Netflix subscription is almost a given. But that’s not the case when it comes to second-tier players in the streaming service market including Disney+, HBO Max, and even Hulu.
A recent survey from What If Media Group shows that people are on the fence when it comes to whether they plan to subscribe to most streaming services other than Netflix. The data shows nearly 30% of respondents plan to subscribe to the long-time streamer this year, with just 10.5% just thinking about it. Every other streaming service ranked has way lower margins in regards to viewers being so sure they’re going to sign up in 2021.
Just over 9% of people are planning to subscribe to Amazon Prime and Hulu, while 28.3% and 30.7% of people respectively are just thinking about it. All other streamers are down from there with only 6.7% and 5.1% already sold on YouTube TV and Disney+, while 20% are unsure whether they’ll subscribe this year.
If you fall into the category of people who aren’t sure what to subscribe to this year, our Streaming Services Comparison can help you decide.
Netflix currently holds the lion’s share of market penetration in the world of streaming services (and has basically forever). 43% of survey respondents subscribe to the early streamer with Amazon Prime Video and YouTube TV trailing a close behind at 40.1% and 38.3%. Hulu, Disney+, and HBO are all below the 25% mark.
“With the market for these services becoming an every-more-intense battlefield, it’s clear that providers need to be smart and aggressive to gain market share,” said Cohen. “The ability to effectively compete obviously starts with a clear sense of consumer preferences around content and pricing, but goes far beyond simply assessing price sensitivity on a single offering. Knowing when to try to convince a consumer to switch services versus adding an additional one, for example, can lead to vastly different outputs from marketing—and vastly different results.”