NEW YORK—As media corporations plot their methods for 2023 in what guarantees to be a difficult marketplace for streamers and broadcasters, new client analysis from Accenture means that one main alternative can be options that tackle widespread client complaints in regards to the problem of navigating by way of many alternative apps and streaming platforms.
In line with “Reinvent for development,” a brand new report from Accenture, six in seven shoppers globally (86%) say they need an all-in-one platform to simplify their leisure experiences with video streaming, fantasy sports activities, social media, ecommerce and extra.
As a part of its second annual international leisure examine, Accenture surveyed 6,000 shoppers to know their preferences and behaviors concerning their on-line leisure experiences. 4 in 10 respondents (41%) mentioned they’d pay for an all-in-one platform for his or her leisure companies. As well as, three in 5 (61%) need the flexibility to share their streaming profiles throughout platforms to permit for higher personalization of content material, the survey discovered.
“Standalone streaming companies are operating up towards some easy info: There are limits to what shoppers can pay for and solely a certain quantity of complexity and choices that they’re ready to cope with,” mentioned John Peters, a managing director in Accenture’s Media & Leisure trade follow. “It’s time to reimagine leisure ecosystems in order that media corporations can transfer to worthwhile development by serving to shoppers get the whole lot they want and wish.”
Different findings from the report additional spotlight the necessity for media organizations to rethink their operational and content material methods:
- A couple of-third (35%) of shoppers unsubscribed from no less than one of many high 5 streaming video-on-demand companies within the final 12 months, and 26% mentioned that they plan to chop a number of within the subsequent 12 months.
- Greater than seven in 10 shoppers (72%) reported frustration at discovering one thing to observe, up 6 proportion factors from final yr.
- Greater than half (55%) of shoppers mentioned they’re overwhelmed by the variety of streaming companies to select from, with 26% saying it might take them greater than 10 minutes to decide on a streaming selection (up from 17% final yr).
Accenture’s report additionally highlights three rising roles for leisure corporations hoping to raised compete for shoppers’ time, consideration and cash:
- Viewers aggregators are platform corporations with a diversified enterprise mannequin that monetize consideration and engagement straight and not directly by tying a number of leisure and different companies collectively in a single place.
- Viewers cultivators will create and effectively monetize leisure in a single or a number of types (e.g., video, music, gaming and so on.) by realizing their core viewers, specializing in content material/price effectivity, and guaranteeing that they’re included in viewers aggregator platforms and bundles.
- Content material retailers will deal with making the absolute best content material with no need to monetize the engagement their content material achieves.
“The way forward for the media trade is transferring towards aggregated platforms,” mentioned Imran Shah, a managing director with Accenture’s Communications, Media & Know-how trade group. “These platforms will obtain two essential outcomes — creating inclusive, decrease churn companies and bundles that can drive income for media corporations, whereas delivering experiences that allow shoppers to simply discover and entry content material.”
Further insights and findings from the report can be found here (opens in new tab).
