Breaking news: customers are waging war from the comfort of their couches. Okay, so maybe it’s not exactly war — and not exactly breaking news. For media marketers like you, the streaming wars have been going on since before the COVID-19 pandemic, yet it continues to grow in scope. In 2020, the number of subscriptions to online video streaming services around the world reached 1.1 billion, with 62% of respondents in a May 2020 survey stating that they or someone in their household was currently subscribed to a streaming service.
Although at least 150 million paid subscriptions to streaming video-on-demand (SVOD) services are projected to be canceled worldwide in 2022, streaming isn’t going anywhere. Content investment, primarily by subscription streaming services, is projected to exceed $230 billion over the course of this year. Streaming platform users aren’t necessarily putting down their remotes or giving up their subscriptions, but they are getting pickier about which streaming services are worthy of their loyalty.
Continue reading to discover key insights, trends, and tips to enhance your media marketing strategy and win the streaming wars in 2022.