Streann Media helps broadcasters to deliver unique value to users and brands
With high churn as the new normal, content creators need data and distinctive features to thrive.
As the leading streaming providers expand globally, while media companies spin up their own domestic streaming services, the amplified competition is creating abundant entertainment options for consumers — and accelerating customer churn. Deloitte Global predicts that, in 2022, at least 150 million paid subscriptions to streaming video-on-demand (SVOD) services will be canceled worldwide (a staggering 30%).
That’s the bad news. The better news is that, overall, more subscriptions will be added than canceled, and the average number of subscriptions per person will rise. These are all signs of a competitive and maturing SVOD market, which requires different business model innovations and pathways to profitability.
Churn has been most marked in the United States, where SVOD has the highest adoption rates and the most services launched. Many consumers have become overwhelmed by the complexity of managing and paying for all those subscriptions. This reality is driving customers to cancel subscriptions or seek less expensive ad-supported offerings.
Providers seeking to retain customers through the strength of their content are spending billions of dollars annually to develop and acquire top-tier programming. But it may not be sustainable to spend so heavily, and consumers will take only so many price hikes. As a result, more SVOD providers are looking to pricing as another way to fight churn, offering cheaper or free ad-supported packages.
Content providers should test pricing tiers for different subscriber segments, customized to each geographical market. They could also attract viewers through multiple ad-supported and ad-subsidized tiers, while targeting premium subscribers with VIP tiers and access to exclusive content such as premium sporting events.
The winners? Content creators and broadcasters leveraging insights from users and establishing a granular relationship with audiences to deliver ongoing value.
Let’s talk about it! Thanks to our data-driven technology and our +150 features for distribution, engagement, and monetization, we help you dominate the new era of content.
About Streann Media
Streann Media®️ is the world’s most innovative and interactive content creation, distribution, engagement, and monetization streaming platform. With Streann, content providers can create live streaming content and build next-generation Netflix or Spotify business models, with more than 150 proprietary features. Established in Miami, Florida, the company has won several industry awards for its innovations and has Millions of Active users in 141 geographies. For more information, visit www.streann.com.