These days a lot of us rely on streaming services to keep us entertained, especially since we've been stuck at home for the past few months. But it seems a lot of folks have a limit to how much they are willing to spend on such services, and that doesn’t bode well for new ones joining the market.
A new survey finds:
- 76% of people pay for three or fewer streaming sites, with 50% paying for between two and three, and 26% paying for only one.
- Only 16% of people are willing to shell out money for more than three.
- 73% of consumers are only willing to invest $50 or less per month on streaming services.
- Only 20% are willing to pay more than $50.
- The truth is most people would rather spend as little as possible.
- 39% of folks say they’ll only spend between $11 and $25, while 24% would pay $26 to $50.
- And new services like HBO Max and Peacock will have a hard time getting that money.
- The survey finds that Netflix, Amazon Prime Video and Hulu hold the largest share of the market.
When it comes to movies, due to Covid-19, several studios decided to release new flicks directly online, but it seems most folks aren’t really down with that.
- 42% of consumers say they are completely uninterested in watching new movies at home.
- 18% would only watch a movie if it was part of one of their subscription services.
- 19% would only watch it if it was cheaper than the price of a movie ticket.
Source:Visual Objects