Streaming services like Netflix looked like a very cheap option for cable TV. But now streammers are facing similar pressures such as prices climb – and the alleged price of their services decreases, especially among young consumers.
On average, video customers in the US are paid for four services, according to the total $ 69 per month, 13% year-by-year increase, according to streaming. Delioet19th annual Digital Media Trends Report released on Tuesday. Comparatively, cable or satellite TV customers reported an average spending $ 125 per month.
About half of the people in the survey (47%) said that they pay much more for streaming services, and 41% believe that the material available on these services is not worth the price (from 2024 to 5 percent marks). Indeed, 60% of consumers said that if their favorite streamers raised their prices per month by $ 5, they would cancel the service, found in the survey.
Membership video-on-demand (SVOD) services for American membership prices are rising up to $ 16 per month, consumers are feeling a pinch, the deliot report indicates-and the surveyed young generations are in danger to cancel the services specifically or to be the option to cancel the services or to be less expensive (or free) advertising options. According to his survey, 54% of SVOD customers have an advertising level of at least 46% of a payment service last year.
Premium streaming services can struggle to find an ideal price point to increase prices without customers and differently -different customers. On average, consumers consider $ 14 per month to consider the “correct price” for their favorite advertising streaming services; Prices above $ 25 per month are seen to be very high. Respondtures stated that $ 10 monthly is ideal for a preferred advertising-supported service (compared to the current market average $ 9 per month), while advertising levels above $ 19 are considered very expensive.
Despite the efforts to reduce the churning of the providers, 39% of consumers have canceled at least one payment SVOD service in the last six months, a rate that has been relatively stable in recent years. This figure is more than 50% for General ZS and Millennials. Additionally, event of “Brainstorm and return” – In which consumers cancels and then renew the same membership within six months – it also remains continuously, 24% of all consumers are doing so in the last six months (40% for General Z and 35% for Millennial Responsctors).
The 19th edition of Deloite’s Digital Media Trends Report is based on a survey of 3,595 consumers and was 14 and older than that in October 2024.
Other conclusions from deliot studies:
- The content on social platforms holds more relevance for young generations: 56% of General ZS and 43% Millennials were surveyed, which find social media content more relevant than traditional TV shows and films. About half of the Jean ZS (52%) and Millennials (45%) felt a strong personal relationship for social media creators compared to TV personality or actors.
- Overall, about 29% of consumers (and 49% General ZS and 40% Millennials) will be more keen on watching TV shows or movies starring their favorite online creators. However, 30% of consumers believe that the creators lose their authenticity when painted on traditional TVs.
- General ZS spent 54% more time in the survey (about 50 minutes per day) on social platforms compared to the average consumer and watch the user-generated content, and 26% less time (about 44 minutes less) than the average consumer.
