It comes as no surprise that streaming has become more popular than ever in 2020, with the average viewer watching nearly eight hours of content per week. Viewing has grown by 16% in the past year, with people around the world spending more time at home than usual.
In Limelight’s State of Online Video 2020, nearly half of people worldwide report subscribing to a new streaming service in the past six months. The top reason for choosing an additional service was time spent at home due to the pandemic. The next most popular reason for subscribing was the availability of more content. Free trials, recommendations from friends, and switching for a current subscription rounded out the reasons for subscribing to a new service.
“Online video demand has clearly accelerated around the world this year, especially with so many people looking for entertainment, information and communication as they have spent more time at home due to COVID-19,” said Nigel Burmeister, Vice President at Limelight Networks. “Our research shows that with the rise in viewers and subscriptions, it is critical that content providers have the right combination of the content consumers want, the infrastructure to scale to meet demand and technology to give them the best possible online experiences.”
When it comes to canceling a subscription, Limelight’s report shows that almost half of respondents (47%) report that they would cancel due to high prices. 29% said if the content isn’t interesting, they would cancel a subscription. 11% listed quality of video playback as a reason to cancel, 7% said they would cancel if content was hard to find, and 5% listed a service not supporting all streaming devices as a reason to cancel (Peacock and HBO Max, take note.)
Limelight’s “State of Online Video” report is based on responses from 5,000 consumers in the US, UK, France, Germany, India, Indonesia, Italy, Japan, Singapore, and South Korea.