Streaming platforms and content providers are at a crucial crossroads. With so many options available to consumers, how do they give viewers content they crave, while keeping costs low, and retention high?
Covid-19 has changed the way consumers watch TV. With stay at home orders, travel restrictions, working from home, etc, consumers have more time on their hands to try new entertainment options. According to Deloitte, “Social viewing, livestreaming, and first-run movies that release directly to digital services have all shown strong engagement during shelter-in-place guidelines.” In fact, the average US adult, spends 12:21 hours watching some form of TV.
But while all this sounds like good news, consumers are both cancelling and adding based on a number of factors, causing a wave of changes in the industry. Traditional content providers have pivoted to create their own siloed SVOD services to compete with streaming platforms, but the production costs are reaching unsustainable levels. The resulting competition creates incentives for hard won subscribers to churn rapidly. After cost, consumers cancel a subscription because of content.
what can be done to stop subscriber churn that benefits providers?
Broadcast and streaming TV providers need to create compelling new content that’s fresh, lower-cost and distinct to improve customer retention.
Consolidated Wonder provides today’s digital audiences fan-driven entertainment that is participatory, social, and authentic. Using our show templates and proprietary AI, we can re-imagine TV and streaming that provides revenue opportunities and value for all stakeholders. Brands can create direct relationships with fans, show creators can create exciting new genres to energize fans at low cost, networks and ecosystems can turn viewers into actionable participants to generate additional revenue, and consumers get the added benefit of participatory TV.
To learn more about our products, contact us.
