UK consumers currently spend an average of £47 each month on TV, film, and video subscription services, but they are dissatisfied with their content options and would prefer more personalised bundles through fewer providers, a new survey has found.
And in order for them to access the TV and other content that they actually want to watch regularly, it is estimated they would have to increase their monthly spend to as much as £74 per month, or £888 per year.
That is according to Amdocs, a US-based software provider to media companies, which worked with research firm Vanson Bourne to question 1000 UK consumers between October and November 2018. The two companies also conducted similar surveys in the US and Brazil over the same period.
The research revealed that the average British consumer uses two TV subscription services, but around two-thirds of respondents (68%) said they would be prepared to pay for single provider offering all their preferred content in a personalised bundle.
And with multiple packages both complex and costly to manage, a similar proportion (64%) said they would cancel their subscriptions to their current provider if a “perfect content” bundle was made available.
When asked what this ideal personalised bundle might include, the great majority (85%) mentioned a “binge-worthy” TV series, such as Game of Thrones, while just under three-quarters (73%) would like a personalised bundle to include access to live concerts and events.
Other popular options include access to all sports games involving one particular team (68%), access to deleted scenes or bloopers (27%), as well as AR and VR enhanced content in films and TV shows (18%).
Of particular note for advertisers, the survey also found that more than half of UK consumers (54%) would be open to receiving more ads if they were able to personalise them.
“We are in a golden age of content, with massive investment in original programming and new ways to consume it. But customers are still having to jump between TV applications and content providers to find the programming they want. This is confusing and frustrating,” said Gary Miles, CMO at Amdocs.
“Helping consumers find their priority content with the right monetisation mix which is simple and transparent will be the winning strategy. For sure, advertisements will help subsidise some of the consumption in many optimal mixes – so the strategy here needs to be fewer adverts, which are more relevant and therefore more valuable to all.”
Sourced from Amdocs; additional content by WARC staff