OTT Viewing Trends in Discovery and Service-Hopping
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Read the complete transcript of this clip:
Elizabeth Parks: We've got tons of data about consumers and their habits. And one of the really interesting things I think is on that 50% of discovery-side consumers of them report enjoying browsing--half the consumers like to browse. And I'm actually one of those. I never feel like I know what to watch. So then I sit and browse and that's usually what I do. I don't actually get to watching. I just browse. And then my time's up and the kids are there.
But there are some nuances here in understanding these different consumers and the segments. And 72% of consumers say they can find what they want to watch. 50% are able to find what they want to watch. 50% enjoy browsing. 42% say they get frustrated. So you've got all sorts of different types of people.
As Damien said, and all of you know, that you're trying to meet at where they're happy. Sometimes that means that to get to a specific set of consumers, you're doing something differently, and there's no way to get to all of them with that little bit of difference there to capture them, especially on the niche services. If you're talking a million subscribers out of the whole population of the U.S., you're not going to everybody. You're not looking for everybody. You don't even want everybody. So I think understanding, again, the movement between services, the hopping, the, the churn, that's something the industry has created. It's it's an offshoot problem that was created by the ease of dealing in and out of services. So by solving one problem for the consumer of getting out of the cable channel, you've created a whole new problem, which is how do I keep them in when I made it so easy for them to hop around?
And I think I said earlier on, 37% of the 8 million or so hoppers who have 5 or more services, you're constantly hopping. 8 million people. That's what they do. Do you really want to change that? Or are you going to embrace it and get them the next time they're hopping? It's gotta be a changed mindset, along with all the different change dynamics that have gone on for the past few years and then had the pandemic and it's all a catalyst for personalization, choice, low price points. And that long-term value that you're getting from the subscriber, which is why many are looking for the younger generations. Disney wants to make sure their brand is imprinted on the five-year-olds the eight-year-olds. So when they are 30 and older, they will look to them as a core offering the consumer mind might want to get.
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