What else are consumers doing when they're streaming films and TV shows?
People have never had so many choices when it comes to in-home entertainment - if COVID-19 had happened 10 years ago, life in lockdown would have looked very different. After all, some of us still remember renting videos from the local library, or getting rentals in the post from services like Love Film. On top of this, smartphones were yet to go mainstream, and mobiles came with an ‘internet button’ which struck terror into our hearts for one accidental press could instantly double the phone bill.
However, it didn’t happen 10 years ago, it happened now. Meaning technology has allowed life to continue on - people have worked from home, socialised virtually and have been able to keep busy while stuck at home. Although activities like board games and reading a physical book still play a role in modern entertainment - especially during lockdown, the most popular options have definitely been digitally-driven. Whether it’s on a smartphone, a laptop or a traditional television, the world is both consuming and creating more content than ever before.
From Netflix’s Tiger King to the launch of Disney+ in the UK, the streaming industry has gone from strength to strength recently - between the end of 2019 and June 2020, Netflix managed to gain a whopping 26m subscribers. But with churn a serious threat to the current market leaders, understanding what’s going on in people’s lives offline could be the key to sustained success.
Here's what was watched for billions of minutes in 2020 https://t.co/cpLPLPfBpx— Total Film (@totalfilm) January 13, 2021
After all, just over half (55%) of entertainment moments are spent with the consumer fully focused on that activity - while 36% are mostly focused but doing other things at the same time. The rest are barely paying any attention at all.
Perhaps unsurprisingly, the number one activity people do when watching streaming services is spend time on their phone (23%), followed by watching TV (22%) and cooking (14%).
What we’re seeing is that those feeling positively e.g. content/upbeat and great/amazing, are more likely to give their full attention to what they’re watching, than those feeling anxious or stressed.
Brands must understand the full picture of a consumers’ experience and leverage this knowledge to elevate it further - or risk losing subscribers to cheaper or more exciting competitors.
To learn more about how uncover hidden growth opportunities by gaining insight into both the online and offline world, read about Streetbees’ Dynamic Media Landscape solution.