January 2, 2020
With the field of subscription streaming video services growing, new data shows the average U.S. household would spend $20 to $21 monthly for combined platforms — slightly more than 20% of the average pay-TV bundle ($96.18).
Soda.com, in a survey of 1,000 consumers who stream video in the home conducted Nov. 7-9, 2019, found the majority (32%) of respondents would pay $20 or more monthly for combined streaming services, while 30% would prefer not to bundle services and 14% would not pay more than $10 for a bundle.
Notably, 44% of respondents said they use two or more streaming services per week.
With SVOD services ranging from $4.99 for Apple TV+ to $15 for HBO Max, which launches in May, consumers are faced with the challenge of mixing and matching services or prioritizing services based on the user’s favorite content.
Netflix is projecting 61.2 million domestic subscribers at the end 2019, with actual figures to be released later this month. That’s more than 80% of the combined tally predicted for Hulu (28.5 million), Apple TV+ (10 million), Disney+ (15 million), CBS All Access (8 million), HBO Now (8 million) and ESPN+ (3.5 million), according to CNBC.
In August 2019, there were about 86.5 million traditional pay-TV households — a number that is projected to drop to 73 million by 2023, according to Statista. Most pay-TV subs continue their subscriptions based on habit, premium channels and sports.
The survey contends Netflix remains the best overall streaming service followed by YouTube TV. Sports fans favored sports-themed fubo TV or ESPN+, whiles families sought Amazon Prime Video (Prime membership and free shipping) and Disney+.
Movie fans chose HBO Now (soon HBO Max) and Hulu, while budget-minded respondents opted for Sling TV and Hoopla.