What streaming platforms can learn from the Nielson Total Audience Report
Even though accessibility has increased, SVOD still has a long way to go. 36 percent of users did not want to move beause they are satisfied with their current services
At the pace at which almost every network giant is moving towards creating an SVOD platform, the day isn't too far when traditional television will move completely to Internet-enabled TV-connected devices. Nielson's Total Audience Report for the third quarter states that although overall total media use remains unchanged at 10 and a half hours a day just as much as last year, internet enabled video devices had the largest year-over-year growth for all races and ethnicities.
Peter Katsingris, SVP of Audience Insights for Nielsen also concluded that irrespective of age group, devices connected to the internet have seen the most growth. Clearly, the audience is moving to stream content rapidly and with the accessibility increased from 61 percent last year to 67 percent this year, the growth potential is vast. The report states that internet-enabled TV-connected devices, that include services like Apple TV, Roku, Google, Chromecast, Amazon Fire TV, and enabled game consoles have increased from 63 percent in September 2017 to 68 percent now.
As far as user want is concerned, the report found that 57 percent wanted access to a broad variety of content, while 56 percent wanted to use technology and an interface that is easy to navigate. 43 percent of the surveyed users wanted local content too, which points to the fact that niche content could also work for the SVOD audience.
Even though accessibility has increased, SVOD still has a long way to go. 36 percent of users did not want to move to SVOD services said that they are satisfied with their current services, and the majority of this percentage actually cited the satisfaction factor as the reason they didn't want to switch.
One-third of the lot felt that it wasn't worth the steep price and the rest felt that they just didn't like the content. As far as the multilingual consumer is concerned, the report shows that 8 out of 10 Asian American, 7 out of 10 Hispanic, and 6 out of 10 Black households subscribe to an SVOD service.
This means that to get this bunch of users, SVOD needs to bring on their A game in the future, which is also dependant on being able to get shows that the audience already knows about. As far as the navigation of choosing what to consume goes, the report found that that friends and family have the most say.
A total of 66 percent of video streaming users are influenced by recommendations from family and friends while 67 percent like to revisit content that they have consumed before. With streaming services making shows like 'Friends', 'Scrubs' and 'That 70's Show' available at the tips of your fingers anytime, anywhere (with a stable internet connection, of course, that 17 percent of the users surveyed did not have), it is not surprising that consumers would want to go back to revisit nostalgic content.