Streaming giants like Netflix (NFLX) and Paramount (PARA) are doing all they can to fight for viewers, but a new survey out from Deloitte shows streamers may be in some trouble. Jana Arbanas and Jeff Loucks from Deloitte joined Yahoo Finance's Seana Smith and Dave Briggs to discuss the latest digital media trends, including subscription fatigue.
"What people are looking for is really compelling unique content, that's why people sign up" said Arbanas. He also points to what the services are providing instead of the price of the streamer when it comes to subscribers turning away, "It's not necessarily cost, it's really about trying to find really great content that speaks to them."
The survey polled over 2,000 consumers and it showed that digital media is becoming more interconnected. Fifty-four percent of consumers watch shows or movies on streaming services after hearing about them on social media. "Our younger generations are really looking for a tapestry frankly of media, they are interacting not only with different streaming platforms, but also with user generated content with gaming" Abranas added.
Watch the full video here
Key Video Moments
00:10 What consumers are looking for from Streaming Services
00:35 Younger Generations looking for more connectivity
01:05 How companies bringing different media typed together
SEANA SMITH: When it comes to why people are still staying subscribed, those that aren't turning, those that aren't canceling their subscriptions, what are they looking for and how does that vary based on age did you find in the survey?
JANA ARBANAS: Yeah, I mean, at the end of the day, what people are looking for is really compelling, unique content. That's why people sign up. It's not necessarily cost. It's really about trying to find really great content that speaks to them.
So I think that runs the gamut from generationally speaking. I just think that more consumers who are in our younger generations are a little bit more digitally savvy. In fact, one of the findings from the survey was just that our younger generations are really looking for a tapestry, frankly, of media. They are interacting not only with different streaming platforms, but also with user-generated content, with gaming. And they want to toggle between those and they can do that from the same device.
And so they actually want that interconnectedness. And in some cases, we're seeing similar IP or franchises cut across these different forms of media. So we have a viral show that then launches video gaming. And some of that hype and buzz is actually created through social media. So I do think there's an opportunity to really bring these different media types together, and amplify, and create more buzz for streamers through these different channels.