In fall 2021, Provoke Insights launched a new wave of its bi-annual study to help brands understand consumer purchasing habits and trends that impact their industry. The goal of this research was to gain a national perspective on the mindset of consumers. In total, 15 separate industry reports were released. Here are some insights from our research on streaming.
Most consumers subscribe to multiple platforms
Americans are not only watching TV via streaming platforms, but in many cases have purchased more than one streaming service. Parents are more likely to subscribe to multiple services. Not surprising, as they are looking to keep their children entertained.
Consumers continue to increase their subscriptions
No wonder there are so many new streaming platforms coming to the market! Just in the last year, over a third of Americans have increased the number of platforms they subscribe to. 2022 looks like a profitable year for streaming platforms as well. Growth will increase, but not as rapidly as in 2021.
Library Size is Key
Ever find yourself scrolling through endless content? You’re not alone – content library size followed by availability of original programming, are the critical features consumers look for when considering a platform.
COVID-19 Concern drives subscriptions
Looks like those who are limiting social gatherings are curling up with their favorite shows for entertainment! People who are concerned about their health due to COVID-19 are likely to have more subscriptions to streaming services now than they did a year ago. Similarly, those who worry about their children’s health say they will increase the number of subscriptions they have in the future.
Provoke Insights conducted a 15-minute online survey in September 2021 among 1,504 Americans between the ages of 21 and 65. A random stratified sample methodology was used to ensure a high degree of representation among the U.S. population (household income, age, gender, geography, ethnicity, and children living in the household). Statistical differences between subgroups were tested at a 95% confidence level. The margin of error is +/-2.5%.
To see the full report or to check out our other industry reports, visit our Fall 2021 Trends page.