Superfans, franchises and unique content could be the answer to reducing streaming attrition – TechCrunch
In today’s highly competitive streaming market, streaming services not only have to figure out how to attract users, they also have to find ways to keep them. Fandom’s “2022 State of Streaming” report may be able to offer some new insights on this front. The report examines fan behavior to uncover key findings such as the reason for churn, how streaming services can increase retention, and ways to retain subscribers by differentiating themselves from competitors.
This analysis was conducted by Fandom, a home for entertainment fan communities across mobile TVs, games and more. The company coupled its extensive user data with a custom global study. Fandom has over 300 million monthly visitors and over 250,000 fan-powered wikis.
According to the recent study, 62% of viewers say gender is the biggest differentiator, with Disney+ being the leader in this area. Additionally, 73% of viewers value streaming services much more if they have movies and shows they can’t find anywhere else.
Nineteen percent of consumers do not have a strong allegiance to one streaming service over another because viewer behavior is driven primarily by content, not provider loyalty. This result indicates that customer loyalty can live or die depending on where they find their next favorite show. (Ask Netflix about this challenge!) And when the market grows ever larger with offerings that barely differentiate from one another, it’s no surprise that consumers are frustrated with oversaturation.
Another key retention factor is having a large library, according to 76% of subscribers. Fifty-five percent of users want original shows and movies.
According to Reelgood, while Amazon’s catalog is the largest, with 2,161 TV shows and 14,670 movies, it has the fewest exclusives among the major streaming services, at just 38%. Netflix, on the other hand, takes second place, with 83% of its catalog exclusive to the platform. Disney+ has the most exclusive content. 89% of its content cannot be distributed elsewhere.
Disney+ has its established reputation of Marvel, Pixar, Star Wars, National Geographic, and Disney properties, while other major streaming services like Apple TV+, Hulu, and Amazon Prime Video aren’t rife with franchises or games just yet. universe the size of a superhero.
Super fans and IP universe
Subscribers also want more than just one show to stay tuned. IP universes are intellectual property that can easily lead to sequels, prequels, and spinoffs. Paramount’s Sheridan Universe, for example, is releasing two more “Yellowstone” spin-offs called “6666” and “1932.” Fandom notes that “Yellowstone” was among its most popular communities.
Consumers are no longer content to watch their favorite shows and skip to the next one. In a world of binge-watching and social media, casual fan behavior has become super-fan behavior. Forty-six percent of dedicated fans seek community and culture around their entertainment interests, and 60% delve into fictional worlds online.
There are tons of online communities dedicated to fictional universes. In particular, Fandom users placed “Star Wars”, Disney, “Harry Potter”, and Marvel in the top four and viewed them as franchises that “promote ongoing fan exploration outside of releases,” according to the report. report.
The majority of Disney’s most popular originals come from the Marvel and “Star Wars” universes, with shows like “The Mandalorian,” “The Book of Boba Fett,” “Loki,” “WandaVision,” “The Falcon and the Winter soldier”. ” and “Hawkeye”. The success of “The Mandalorian”, mainly fueled by the kindness of Grogu, has become one of the most requested series in the world. On December 1, 2021, Parrot Analytics said that “The Mandalorian was 31.9 times more in demand than the average title globally.
Fandom user data shows that Disney+ is worth 30% more than the average video streaming service. Disney’s huge umbrella of universes and characters has spawned a fanfiction community like no other. Disney adults could single-handedly take over the internet. Ok, not actually. But it’s fun to think about all those Mickey hats.
Additionally, Disney’s Fiction fan community grew by +45% upon the “Encanto” release, with the Encanto FanFiction page ranking as the number one trending page during the week of its streaming release. The soundtrack, in particular, was a hit everywhere, especially on TikTok, and if you didn’t have “We Don’t Talk About Bruno” in mind for a week, well you’re one of the lucky ones. The popular song, written and composed by Lin-Manuel Miranda, became Disney’s first song to top the UK Singles Chart. It is also Billboard’s highest-charting Disney song, peaking at No. 2 on the Billboard Hot 100.
Meanwhile, Netflix is desperately trying to find a new IP address. Last year, the company acquired the Roald Dahl Story Company in hopes of creating “a unique universe across animated and live-action films and television, publishing, games, experiences immersive, live theater, consumer products, etc.”, wrote Netflix in its Blog.
Amazon also focuses on intellectual property with universal potential. The company has invested heavily in “The Lord of the Rings” and its ownership of the “James Bond” franchise through its $8.5 billion acquisition by MGM.
Karol Severin, co-founder and entertainment/technology analyst at research firm MIDiA, said:
“It’s easier for competitors to order ‘something similar’ to a single movie or TV show than to replicate the depth of an IP universe. For these reasons, we believe that IP universes will continue to play an increasing role.“
Streaming services have the opportunity to reduce churn and potentially “win” the streaming wars by building loyalty and creating a comprehensive fan experience with unique content and franchises. So, streaming services need to boost titles that lend themselves to additional storytelling, rather than standalone stories that only work as one-off movies or series.