Consumers are still reluctant to pay for live streaming, according to research from Market Strategies International.
According to the company’s StreamOn report, just 11 per cent of consumers are willing to pay for streaming content – although it does say news and sport are the exceptions.
This reports suggests that nearly three-quarters (73 per cent) of US audiences use streaming services and nearly a third (29 per cent) of those who stream have either cancelled or downgraded their traditional TV services.
It says the most successful streaming companies “are the ones that have gone outside the components of the traditional pay-TV format: broadcast channels, scheduled live programming, and programming guides.”
Market Strategies International says Netflix is the market leader in the streaming world.
“While Netflix has the highest use rate and share of wallet by a long shot and is the provider to beat—there is not a clear winner yet. None of the current providers has cracked the code on what consumers want,” said Greg Mishkin, vice president of research and consulting at Market Strategies. “However, the research clearly shows that the strength of the leaders is due to their ability to break free from the old rules of TV.”