OTT
Highlights
- 33% of the worldwide consumers state that they might reduce their spending on streaming services
- 22% of consumers worldwide use four or more services while 33% subscribes to just one
- 60% of OTT platform users in India believes that they are paying for irrelevant content
A survey conducted recently showcases that the OTT platforms like Netflix, Disney+ Hotstar, Amazon Prime Video and more are working on bringing new series and movies for the users every month to engage them, but still, 69% of consumers in India are struggling to choose the right film or show.
According to the survey of Accenture, more than 60% of consumers of OTT platforms in India believes that the content for which they are paying to the platforms are irrelevant- as the user has a lot of options to watch.
It was further mentioned in the report that 81% of users of OTT (who were surveyed) wish to share their profiles with another service for getting better-personalised content. 60% of the surveyed users across the globe believe in navigating the services looking for what to watch is “a little” to “very” frustrating for them. It states that the more services a user use, the more confusion it causes, resulting in frustration.
As per the report, 22% of consumers worldwide use four or more services while 33% subscribes to just one.
Though the survey does not mention the names of the major OTT players in India, but they include names like Amazon Prime Video, Netflix, Disney+ Hotstar, Voot, Sony LIV and more.
The report further states that the consumers are reaching limits for understanding their spending power over streaming services. 33% of the worldwide consumers state that they might reduce their spending on streaming services in the coming year, the reason being, both subscriptions and in-app purchases.
In India, 46% of users survey states that they plan to reduce their expenditure on media and entertainment across subscriptions.
“The monthly payments for more services are a growing problem. In fact, many consumers are approaching their upper limit on the amount of money they’ll spend for streaming services”, reports Accenture.
As per the report, Seven in 10 (70%) consumers globally said they expect streaming services to continue raising their prices.
