Consumers are struggling to find differentiation among the big streaming services, Hub Entertainment Research found in its annual Evolution of Video Branding study.
While consumers are aware of the many broad-appeal streaming services available to them, they are having a hard time determining what makes one service different than another, especially amid a scaling back of original content. According to Hub, “this blur of less distinctive originals across services has softened interest in sign-ups.” Indeed, in 2021, 41 percent of consumers signed up for a new platform to watch a specific show; as of this year, that’s down to 37 percent.
Streaming subs are also struggling to find “signature” shows on a platform, with many shows now seeming like they could play on any service. Of note, while 58 percent of consumers know Stranger Things is a Netflix exclusive, less than half could correctly place where to watch shows like Game of Thrones, The Bear and Ted Lasso. While scripted content is seen as a “blurry” landscape, Hub notes, live sports are standing out as acquisition and retention tools.
“Services that lean into broad-appeal scripted programs may not be enough for viewers who struggle to identify what makes services distinct from one another,” said Jason Platt Zolov, senior consultant for Hub. “Emphasizing more brand-defining features and value drivers beyond just exclusive originals could have more upside for streamers looking to improve viewer loyalty.”
