Streaming services are booming, especially during the pandemic when theatres and other entertainment opportunities are closed. 36% of consumers with a streaming service say they subscribed because of effects of the pandemic and more interesting – 86% say they will keep subscribing to streaming service also after the pandemic, subscription management firm Brightback´s annual US State of the Industry report shows.
98% of online consumers subscribe to streaming media and 75% of them subscribe to two or more services.
53% of them have a mobile app subscription; 39% news; 37% box subscription; 34%health and fitness; 33 other miscellaneous and 31% food.
If they want to cancel the subscription, 60% want to be able to do so online. 32% of this audience changed their mind about cancelling a service after being offered an incentive. The value of arguments for not cancelling: 49% discount; 28% account credit; 26% pause plan; 25% downgrade; 22% skip payments; 21% switch product or plan; and 20% partner offering or bundling.