While 72 percent of consumers in the country said they would pay for an all-in-one platform for their entertainment services, five in six want the ability to share their streaming profiles across platforms for better content personalization, according to the report from
“With a growing focus on revenue over content and increasing customer dissatisfaction with their media experiences, the streaming industry is at a critical stage of evolution,” said
“To stay relevant and profitable in an increasingly competitive media landscape, streaming service providers need to reinvent the entertainment ecosystem, taking into account consumer needs for simplicity, customization and affordability,” he added.
In addition, the report also revealed that about 41 percent of consumers in India have opted out of at least one of the top five streaming video-on-demand services in the past 12 months and 42 percent said they plan to use one or more in the next 12 months.
More than six in ten consumers (62 percent) in the country reported being frustrated when trying to find something to watch.
While 77 percent of users said they felt overwhelmed by streaming service offerings, 30 percent said it takes more than 10 minutes to decide on streaming, the report said.
The report also identified three emerging roles for entertainment companies competing for consumers’ time, attention, and money: audience aggregators, audience cultivators, and content sellers.
“The shifts in consumer preferences and behavior point to the need for aggregation. As value becomes the key determinant of success, media companies need to become more customer-centric using data and analytics,” said
“Before the pandemic, the presence of stars was a major draw for video streaming, but in the post-pandemic economic narrative, treatment and performances have emerged as the real hero,” he added.
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