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Paramount +, the latest addition to the streaming wars, launches today, promising a mix of classic TV and movie shows, sort of early access to some Hollywood blockbusters, and reboots of things you didn’t know. you wanted to restart: Welcome back, Frasier Crane.
But in some ways, the elements offered by the new service of ViacomCBS may be less important than the Schedule of its launch. It comes after all of the other big media companies rolled out their own streaming service. Which means Paramount + is entering a very crowded market.
And that means, most likely, that ViacomCBS isn’t just trying to get Paramount + to pay $ 10 a month – it probably needs something else to drop as well. Antenna, a subscription analytics startup, claims that U.S. consumers subscribed to just 1.5 streaming services in January 2021.
Two years ago, when streaming services still roughly meant Netflix and Hulu, that number was 1.25. Which means that while we’ve seen a lot of services debut recently, most people still aren’t paying for them – and even if they pull their credit cards out to sign up, they’ll likely stop paying for them. pay after sampling.
Antenna, which says it uses sampled data from online bill payment services to gauge what people are actually spending money on, has laid out the challenge ViacomCBS faces quite clearly in the datasets below. . But the easiest way to sum it up might be this: (pretty much) everyone already has Netflix.
This graph, for example, tells us that 75% of people who recently got Netflix in the first half of 2020 continue to pay for the service – a higher survival rate than any of its major streaming competitors. Meanwhile, only 34% of new Apple TV + 2020 subscribers are still paying for the service now. (Air data does not include broadcasters who receive free services as part of promotions such as the Disney’s Verizon bundle or the free trial of Apple TV + that Apple offers to customers who purchase hardware. Apple, like new iPhones.)
And yes, some people – maybe the people reading this article – do subscribe to a lot of streaming TV services. But it’s a very small minority.
Meanwhile, Netflix customers were less likely than other streaming subscribers to pay for something else – which probably has something to do with the fact that (almost) everyone has Netflix. This is the streaming starter package: you get it first, then maybe think about adding something else.
The good news for ViacomCBS, in a way, is that people who have subscribed to its existing services – CBS All Access, which is reoriented into Paramount +, and Showtime – are already more likely to subscribe to something else. .
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