Commerce Signals Launches SVOD Trends Report, New Service To Track Fast-Changing Consumer Subscription Behavior Across Video On-Demand Platforms
Commerce Signals Continues Expansion of Marketing Product Suite powered by Card Payments Data
Commerce Signals, a Verisk company and leader in payment based marketing solutions, announced the SVOD Trends Report, a new service that tracks and analyzes consumer subscription behavior on Netflix, Amazon Video, Disney+, HBO Max, Hulu, Paramount+ and Peacock across a variety of key performance indicators.
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The SVOD Trends Report is a companion service to Commerce Signals’ Media & Entertainment Dashboard, which provides insights into which streaming video platforms and specific programs U.S. households are watching, including who in the home is watching.
The new SVOD Trends report is based on payment card data from more than 40 million U.S. households, providing rich insights into new subscriptions, churn rates, net new customers, average spend per subscriber, subscription overlap and other key performance metrics for the leading on-demand streaming video services.
“Studios, networks, content producers, and talent and media agencies struggle to understand subscription and viewing behavior in the fast-changing streaming video on-demand industry. However, these insights are critical to inform creative and strategic business decisions, negotiate contracts, and develop advertising, marketing and business plans,” said Andy Mantis, Commerce Signals President. “Commerce Signals now provides the most robust and actionable single source of truth for these businesses.”
The Over-the-Top (OTT) video streaming market has been growing rapidly for several years and experienced a dramatic leap forward during the pandemic. Allied Market Research forecasts the market will grow at a compound annual growth rate (CAGR) of 29.4 percent from 2020 to 2027, reaching $1.039 trillion by 2027. As the number of OTT platforms increases, so has the number of streaming services per household (service stacking). Some 31 percent of households now subscribe to four or more services.
Churn, the percentage of subscribers who leave a service over a period of time, is quite high within the industry, as consumers often jump into and out of video on-demand subscriptions based on short-term content choices. For example, the average churn rate for the top seven services in March of 2021 was 21.7 percent, with Peacock’s churn rate the highest at 65.08 percent and Netflix the lowest at 11.46 percent.
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