Stream, interact, repeat Why SVOD needs a social engagement revolution
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20,000 foot view: Audience engagement with subscription video on demand (SVOD) services is sliding, with multi-tasking on social media often relegating shows to background viewing. Social media is the threat, but also the catalyst for a radical recalibration of the SVOD viewing experience that will help these services claw back what is lost. Pushing beyond passive viewing, and toward a socially interactive experience inspired by video games and livestreams, will create the counter-offensive SVOD needs to win the allegiance of generation Z. Doing so will unlock monetisation and metaverse opportunities that will diversify revenue streams to protect SVOD’s future during a period of increasing economic uncertainty for consumers.
Key insights
- SVOD services struggling to maintain attention in saturated attention environment – weekly hours fell by between 2021 2022
- Meanwhile, social weekly hours increased over the period by to hours
- SVOD engagement further pressured by entertainment multi-tasking socialising while engaging in digital from hours to hours per
- SVOD’s risk that social media is capturing most committed viewers – in of US binge watchers used daily and used TikTok
- SVOD has opportunity to embrace social behaviours drive engagement – US binge over-index for commenting, liking, or at 2022)
- Convincing older to embrace a hybrid SVOD social experience will be key they remain committed to traditional
- SVOD services be able to combat attention by poaching behaviours from livestreaming platforms drive focused engagement
- SVOD users social interactive behaviours – Amazon Video and Netflix subscribers over-index on engagement behaviours at 2022)
- A hybrid / social experience can also the fickle viewing habits of gen who are digital natives that across streaming services and social
- In 2022, generations streamed movies and shows shorter bursts – of watched less five hours of TV shows movies on SVOD services every week
- Embracing social be crucial in squeezing the time needed from gen Z secure SVOD’s future
Companies and brands mentioned in this report: Amazon Prime Video, Amazon Games Studio, Amazon Fire, Cult of the Lamb, Devolver Digital, Disney+, Fortnite, Google TV, HBO, Hulu, Massive Monster, Netflix, Stranger Things, Teleparty, The Lord of the Rings: The Rings of Power, Roku, TikTok, Twitch, YouTube