Over one-third of consumers have multiple subscriptions to online video streaming services, according to the latest data from Limelight Networks. Across the 5,000 people surveyed in nine markets, 37.0% had at least two video-on-demand paid subscriptions. This is an increase from just over one-quarter (27.0%) last year.
Video streaming platforms are becoming significantly more popular – two-fifths (40.7%) didn't pay for any service in 2018, falling to below one-third (29.6%). Indeed, the share of respondents who had three or more subscriptions rose from 9.8% in 2018 to 15.0% this year.
Video-on-demand streaming subscriptions become less popular as age increases. Around four-fifths of 18 to 25 year olds (78.6%) and 26 to 35 year olds (84.7%) pay for at least one streaming service. This compares to one-half (52.9%) of those over the age of 60.
Paying for multiple services also becomes less common as age increases. Just 6.0% of those over 60 years old pay for at least three subscriptions, compared to nearly one-quarter (22.5%) of 25-34 year olds.
Across the nine markets surveyed, subscription video-on-demand platforms are most popular in the United States. Nearly one-third of respondents (29.2%) pay for three or more video streaming services. This is an increase from 23.0% last year.
Paying for video streaming services is least popular in Japan – over two-fifths (41.6%) don't currently pay at all. This is down from one-half (47.8%) last year, though.
New entrants are posing a significant challenge to both established platforms and traditional TV. Globally, the subscription video-on-demand market is expected to nearly double between 2018 and 2023, with Asia Pacific overtaking North America by 2021. This presents a growing struggle for TV marketers, as consumers move online to escape advertisements.