Streaming TV
Ronstick – stock.adobe.com
The streaming industry and its operators continue to seek new and compelling services to retain customers and attract new audiences. The abundance of choice has brought innovation considerations to the entertainment sector. In a fragmented market, the industry’s north star is the data behind where people spend the most time with content, and these strategies may seem all too familiar.
Bundling is not a new concept. The combination of internet, home phone and TV packages was a groundbreaking evolution to efficiently deliver the services customers want at an affordable price. Digital transformation offers different options and new avenues for innovation, but it requires running fast, reliable and secure networks. The industry continues to work at lightning speed today, for the connectivity, convenience and customization of tomorrow. What’s next?
What is StreamSaver and where does it fit in?
While connectivity opens the door to all kinds of content the internet can provide, we see companies like Comcast, a major connectivity company, setting new standards based on their heritage.
Comcast is one of several U.S. cable operators experimenting with streaming services and TV packages, recently introducing the StreamSaver bundle that includes Peacock, Netflix and Apple TV+ for just $15 per month. The broadband bundle has not only garnered interest from existing cable customers who have downgraded their service, but also from a new demographic of customers who want the convenience and ability to curate their entertainment options.
Understanding changing consumer preferences with the emergence of new bundling deals provides key insight into these opportunities. According to a recent Prosper Insights & Analytics study, more than 50% of Gen Z, Millennial, Gen X and Baby Boomer participants currently do not bundle their home communications services, creating a huge opportunity for new customers and audiences looking to save money on their monthly bills. This includes users who still have internet, cable mobile devices and even landline phone service.
Prosper – Do you bundle your home telecommunications services?
Prosper Insights and Analytics
“The positive reception from both existing and new customers is exactly what we expected, but even more so,” said Christine Whitaker, president of Comcast’s central division, adding that the company sees it as “a premium streaming package that will retain existing customers while attracting consumers who want both Comcast’s quality service and the value of the bundle.”
What sets this bundle apart from others is the unique ability to add StreamSaver on top of Xfinity Internet, Mobile and TV, and a value-driven model called the NOW Portfolio that gives you access to the same high-performance network at an even more affordable price. Comcast offers an easy way to upgrade to ad-free versions of services in the StreamSaver bundle for a fee, so consumers aren’t locked into watching ads and don’t have to disconnect from the bundle if they want to upgrade.
Partnerships and next-generation technologies will shape consumer preferences
Streaming platforms have long been at the forefront of entertainment, with total TV time spent soaring due to an explosion of not only on-demand content but a variety of content as well. According to Nielsen data, in 2023 alone, Americans streamed more than 21 million years of video, up 21% from 17 million years in 2022. To keep pace with the ever-changing media landscape and consumer preferences, streaming platforms could benefit from partnering with traditional organizations that specialize in behavioral habits, especially during the industry’s post-pandemic downturn.
Just as shows, sports, and movies love to innovate to gain audiences, so too do the platforms and technologies that deliver them. For example, Netflix has long pushed the boundaries of traditional entertainment distribution. As a pioneer of streaming services, Netflix has redefined the entertainment landscape, providing unparalleled access to a vast library of TV shows and movies at viewers’ fingertips with recent advancements in the viewing experience, including interactive storytelling.
As the second most popular streaming service after Amazon Prime Video, Netflix’s brand recognition, Peacock’s dominance of sports programming, and Apple TV+’s originality combine to create significant appeal for consumers. While these platforms and others each have their own unique characteristics, they share one thing in common: they rely heavily on technological advancements to innovate.
Scaling faster and more efficiently without sacrificing quality requires highly intelligent algorithms, content delivery networks (CDNs) and cloud computing technologies to deliver seamless, customized experiences – a role that a strong partner like Comcast can help with, along with their marketing and customer acquisition expertise.
With more than 16,000 employees and managing 21 million customers across 12 states, the company is “constantly evolving and adapting to meet customer expectations,” Whitaker said. “We’ve invested more than $20 billion in our technology and network over the past five years to enable partnerships and unparalleled experiences like these.” Nearly 90% of Americans based in the Midwest are familiar with Xfinity services, according to a recent online survey conducted by Edelman DxI.
The future of at-home entertainment
Using Comcast’s platforms, including X1 and Xumo Stream Box, which are powered by its award-winning entertainment operating system, to provide easy navigation and aggregated content search directly responds to consumer behavior and is what the company sees as the next step in home entertainment.
While StreamSaver will remain flexible and potentially include other streaming services depending on behavioral habits, the long-term vision and hope is to become a one-stop destination for streaming, fitness, music and gaming in one place. Gone are the days of scrolling to change apps; Comcast’s technology brings everything together in one centralized system. This allows consumers to spend less time searching and more time enjoying, while growing their digital equity.
“Comcast sits at the intersection of connectivity, innovation, entertainment and platforms, all of which underscore the importance and need for access to fast, reliable connectivity. This isn’t just about building a shiny new toy; ensuring digital equity is our top priority,” Whitaker added.
Trends in streaming and bundling demonstrate that delivering continuous innovation in your entertainment portfolio to meet consumers’ evolving needs starts and ends with understanding audience behavior and preferences. Narrowing your focus on understanding how time is spent across TV, internet and mobile provides companies with the foundational data they need to effectively and efficiently plan for the future.