Fandom Uncovers Three “Rules of Retention” for Streaming Services in Its 2022 State of Streaming Study

2nd Annual Study Provides Proprietary Learnings On How To Build Platform Loyalty Including Genre Focus And Beyond-the-Screen Experiences

Fandom, the world’s largest fan platform, today unveils the findings from its second annual State of Streaming report – a global study and analysis that examines the impact of changes in consumer viewing behaviors and mindsets on the streaming industry. Fandom has over 300 million unique monthly visitors, more than 250,000 fan-powered wikis, and over 40 million pages of content that get a combined 30 billion page views each year. By coupling Fandom’s robust user data with a custom global study, the 2022 State of Streaming report dives deep into fan behavior to uncover key findings such as why consumers cancel their subscriptions, what it takes to retain them, and how streaming services can drive platform loyalty and differentiate themselves to avoid churn.

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As an overwhelming amount of streaming offerings continue to hit the market, fans have countless ways to consume the entertainment they love. So, what really moves the needle for consumers? This year’s study focuses on three “Rules of Retention:”

  1. Streaming services must lean into genre strengths and value-adds to retain customers
  2. Studios must rethink the in-theater experience to differentiate from growing at-home viewing trends
  3. Both streaming services and theaters must super-serve consumers beyond the screen to drive loyalty and favorability 

Major takeaways include:

  • Cost is the leading reason why subscribers will likely cancel a subscription – 61% believe their streaming services are too expensive and value the average video streaming service at $7.46 monthly.
  • Average prices consumers want to pay for top streaming services include: Netflix ($10.60), HBO Max ($9.30), Disney+ ($9.20), Hulu ($8.60), APV($8.60), Apple TV+ ($6.9) Paramount+ ($6.80) Peacock ($5.5)
  • 73% of fans would justify the cost of a streaming service if it provides exclusive access to entertainment offerings like exclusives and behind-the-scenes content as well as merchandise & collectibles
  • 32% of fans would find added value in bundles with gaming subscriptions 
  • 62% state that GENRE is the key differentiator with Disney+ being acknowledged as the genre-leader to date
  • 19% of consumers don’t have a strong allegiance to streaming service as viewer behavior is driven by content, not provider loyalty
  • 45% claim that streaming services who establish partnerships – like offering packages with food delivery services – would enhance their viewing experience and drive loyalty
  • 46% look for community & culture around their entertainment interests
  • Franchises that foster always-on fan exploration outside of releases live at the top of Fandom’s rankings – #1 Star Wars, #2 Disney, #3 Harry Potter, #4 Marvel
  • Disney’s massive franchises with critical fandoms will make them a standout leader in the streaming space – and consumers believe Disney+ has a +30% higher value than an average video streaming service
  • 80% of Fandom users have returned to theaters or are comfortable with in-theater viewing – but 74% of consumers are willing to wait to see the movie as part of one of their subscription plans, as long as it’s free
  • When consumers prefer to see movies in a theater it is because of
    • 61% – Screen size
    • 54% – Sound Quality
    • 51% – Event/Outing
  • When consumers prefer to watch movies at home it is because of:
    • 82% – Ability to pause while watching
    • 65% – Owning movies they can rewatch 
    • 61% – Watch with subtitles

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“A crowded and competitive market has driven the major streaming platforms to shift their focus from acquisition to retention,” said Perkins Miller, CEO of Fandom. “Fandom is uniquely positioned to partner with streamers to help them understand key retention drivers and how to continuously re-engage their audiences.”

“Our proprietary data – Fan DNA – unlocks powerful insights into the fan mindset, enabling us to understand not only what fans are watching now, but what they want to watch next,” said Stephanie Fried, CMO of Fandom. “A deep and granular understanding of fan preferences and motivations allows us to share insights to inform our partners’ programming, messaging and targeting strategies, resulting in a more satisfied and loyal customer base.”

The 2022 State of Streaming report identifies macro-level entertainment patterns and trends based on a survey of 5,500 Global Fandom users. These insights were validated and deepened through Fandom’s robust user data – more than 300 million monthly unique visitors, 40 million pages of content across 250,000 wikis – and qualitative and quantitative insights from Fandom’s proprietary fan panel. This methodology provides a 360-degree view of what’s happening in the streaming landscape through the eyes of Fandom.

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