What is your main priority when choosing a video service provider?
Over 29% of UK consumers prioritise the ability to watch content on demand, including the ability to download it to watch at a later date, as their main priority when subscribing to a streaming platform, according to Imagen.
Furthermore, consumers are further enticed to subscribe when the streaming platforms provide the ability to access new original content (27%) that are cheaper than a TV package (22%).
Despite this, almost a third (30%) of consumers surveyed still watch the majority of content on traditional TV channels, suggesting that viewers currently see more value in the offerings of broadcasters over streaming platforms which are favoured only by a fifth (20%) of respondents.
Meanwhile 22% of consumers say they mostly tune into YouTube.
Charlie Horrell, CEO, Imagen, commented: “Our research indicates that there is an opportunity for traditional broadcast players to enhance their services and compete with the increasing number of streaming providers by enabling consumers to watch more content on demand.
“This is something we’re already seeing organisations like Sky and the BBC now offering via their online platforms where viewers can access boxsets and can download shows to watch on the go. It’s also clear that consumers really value being able to access new original content, which came as a close second in terms of priorities.
“In a world of growing convenience, consumers want on-demand access to their favourite shows and programmes wherever and whenever. Traditional broadcasters must therefore consider how they can respond to changing viewer requirements and maximise the value of their content,” adds Horrell. “In doing so, they will remove a key differentiator between their services and that of streaming platforms.”