for streaming services. Nearly half of consumers say streaming services are too expensive and nearly a third plan to trim back on their subscriptions, with prime demographics leading the way on the cutbacks — 62% of millennials and 57% of Gen Z.
Over the past few years, there’s been an explosion of options for every type of consumer. Once dominated by a handful of players, now practically every content owner has launched their own direct-to-consumer service — Disney, Apple, NBC, not to mention the numerous music and gaming services out there — turning up the america phone number list stakes on keeping existing subscribers happy and loyal. That’s why audience engagement has become a make-or-break factor for streaming services.
Consumers are more connected than ever before and are subscribing to a myriad of services — most averaging nine subscriptions. But those days appear to be numbered. The challenge now is how to keep the subscribers you have, and that means keeping them happy. How do media companies make sure they continue to stay relevant to their customers? More importantly, do they have the right insights at their fingertips to proactively identify at-risk subscribers and create retention journeys?