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OZ Content Market Set To Get ‘Complicated’ Claims Deloitte

Consumers are starting to get confused as they face making choices as to which streaming service they will invest in as the Australian content market heads in a new direction. Currently there are more than 12 television and movie streaming services, and eight music streaming services, in Australia.

Tday consumers have the choice of Foxtel, Netflix, Stan, Amazon Prime, and shortly Disney+ and Apple TV+, there are also services on offer from Kayo Sports and Optus Sports.

Shortly Foxtel will launch a new drama channel to take on Stan and in the near future NBCUniversal’s Peacock.

“Audiences will be more confused, not less confused, as the market continues to add more services,” Deloitte national media sector leader Adam Power told The Australian Financial Review.

“I think what we’ll see is that it’s the viewers who are going to determine what premium content is because they’ll be voting with their wallets, or credit cards, each month. I don’t think anyone is going to be paying for seven or eight SVOD subscriptions per month, so people are going to have to make choices, and there will be winners and losers out of that.”

A recent Media Consumer Survey conducted by Deloitte’s revealed that consumers feel they increasingly need more than one streaming service to get all the content they are looking for. Fifty-seven per cent of Millennials reckon one streaming service doesn’t cut it, and 46 per cent said it was hard to know which service had the content they wanted.

In the future consumers will have to make choices as to which services they want or whether they are prepared for their total spend on content to rise over $70 per month.

The survey found 19 per cent of respondents who have cancelled a streaming service have immediately picked up another one, a trend Deloitte expects to continue as consumers dip in and out of services based on what they want to watch.

“I think it will take time for that to settle. We’ve come recently from the position where you could have just about everything that you want,” Deloitte Monitor senior manager Jeremy Smith said.

“This is going to be a new experience for consumers to have to make these choices and I think it will take quite a bit of time before they decide how much they’re willing to spend across these subscriptions once they try out multiple and explore this world disaggregated content.”

Deloitte’s Media Consumer Survey collates responses from 2000 people in varying age groups from 14 to 72 and above.

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