A new Accenture report has revealed that Australians are overwhelmed by the number of streaming services on offer and want a more streamlined service.
Accenture’s annual Global Entertainment Study interviewed 6000 consumers across 10 countries and revealed that streaming services are at a crossroads in Australia as subscriptions drop not merely from cost of living pressures but the proliferation of choice.
The study revealed that two-thirds of Australians are overwhelmed by the number of streaming services to choose from.
It revealed that the proliferation of streaming services in the market is further fragmenting consumer attention with a quarter spending more than 10 minutes searching for something to watch rather than consuming content.
Other findings revealed:
Nearly half (45 per cent) are frustrated by having to switch between different apps for different services
Australians want a simpler entertainment experience with 92 per cent interested in a single app that can provide all the services they need on one platform
More than half (55 per cent) of Australians would be willing to pay for the platform, presenting an opportunity for the industry to find new ways to monetise through an aggregator
The study noted: “Standalone streaming services are running up against some simple facts: there are limits to what consumers will pay for and only a certain amount of complexity and number of options that they are prepared to deal with.
“For a start, [consumers] want things simpler. They don’t wish to spend excessive amounts of time searching for content or trawling through multiple screens and apps to find what they want. Almost three in four (72 per cent) consumers now report frustration at finding something to watch – that’s 6 percentage points higher than last year.
“A quarter of consumers (26 per cent) now say it can take them more than 10 minutes to settle on a choice. More than half (55 per cent) are simply overwhelmed by the number of streaming services to choose from.
“To overcome that, they want simplicity (one route to my content) and control (let me share my details with whoever I choose). More than eight in ten would be interested in a single service that captured and shared all their basic information along with content preferences,” the report noted.
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