The vast majority of consumers worldwide ( 86 percent ) want an all-in-one platform for video streaming, fantasy sports, social media, e-commerce and more, according to the Reinvent for Growth report from consultant Accenture . 6,000 consumers were surveyed to understand their online entertainment preferences and behaviors. Four out of ten would actually pay for an all-in-one service. Additionally, 61 percent want the ability to share their streaming profiles across platforms to enable better personalization of content.
Too complex, too many options
“There are limits to what consumers will pay for and only a certain level of complexity and options they are willing to deal with,” says John Peters, managing director in Accenture’s Media & Entertainment Industry Practice. It's time to reinvent entertainment ecosystems so media companies can move to profitable growth by helping consumers get everything they need and want. According to Peters, other findings from the report underscore the need for media companies to rethink their operational and content strategies.
35 percent of consumers have unsubscribed from at least one of the five leading streaming video services in the past twelve months, and 26 percent say they plan to do so. 72 percent complained that they couldn't find what they wanted to see , up six percentage points from last year. More than half of consumers (55 percent) say they are overwhelmed by the number of streaming services to choose from, with 26 percent saying it can take them more than ten minutes to find the right one. Last year it was only 17 percent.
Find attractive offers easily
“Creating attractive offerings that curb churn and increase revenue is crucial for the platforms of the future,” emphasizes Imran Shah, Managing Director of Accenture’s Communications, Media & Technology Industry Group. “At the same time, they must enable consumers to easily find and access content.”
Source:
Press release
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