Burnishing the back catalogue Retention in an inflationary era
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20,000 foot view: With inflation squeezing commissioning budgets, streaming-TV services are battling to demonstrate value to consumers who risk churning under pressure from the cost-of-living crisis. The big spend on new shows to grow playbook is not only unsustainable, but also out-of-step with the consumer appetite for classic content. To retain subscribers sustainably in an inflationary era, streaming TV services need cost-effective engagement and can do so by bringing back catalogue to the fore. Through incorporating social tools, focusing on fandom, and embracing lean-back consumption behaviours driven by free ad-supported streaming TV channels (FAST), streaming TV can minimise churn and usher in a new era of sustainability. This means commissioning fewer new shows and sweating existing IP across audio, games, and live services.
Key insights
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of US consumers watched something they are already a fan of, or re-watched shows when consuming video as a standalone, focused activity in 2022
put on something new or watched an undiscovered back catalogue show when consuming video as a standalone, focused activity
- FAST channels use back catalogue to create streaming TV experiences that offer relief from the tyranny of
- Personal recommendations the dominant route for discovering despite streaming TV’s investment in recommendations of consumers discovered new TV shows through personal recommendations in 2022
- Streaming TV can use social tools to personal recommendations part of the experience, bolstering back-catalogue engagement
- Watch parties make entertainment events out of shows if they focus on communities
- Video subscribers at when it came to to podcasts every month in compared to the consumer average
- Podcasts can back-catalogue engagement through utilising flagship
- Consumer demand new titles is strong, but services that better showcase back can unlock value from older that speak to personal preferences
Companies and brands mentioned in this report: Disney+, The Godfather, ITV, ITVX, Netflix, Pluto TV, Spotify, Stranger Things, TikTok, Zoolander