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Customer experience

Capture consumer attention, build viewer loyalty, and win the video-streaming wars

Success strategies for streaming-service companies in a hyper-competitive media landscape

Streaming services have become the preferred method of consuming video content. Consumers are now benefitting from more entertainment options than ever before as media companies battle over their limited resources: money and time.

The first era of streaming was marked by the rise of flexible on-demand services, offered by technology companies like Netflix, bringing a vast portfolio of films and shows to households with an internet connection. Subscriber numbers have increased over the years and exploded when people chose to stay at home during the global COVID-19 pandemic.

Streaming companies have quickly improved their ability to personalize customer engagement and generate revenue by bypassing intermediaries and creating more opportunities for cross-selling and up-selling. This propelled growth, consolidation, and diversity across the media and entertainment sector – ushering in the second era of streaming.

The result: a golden age of streaming for consumers and a fight to survive for the media enterprises behind it in a fragmented and unpredictable landscape. New service models, such as those based on advertising, now threaten the traditional subscription model with their advantages and incentives. Industry leaders facing significant reductions in subscriber numbers are introducing and preparing alternative service models in response.

With so much changing so quickly, consumers are likely to change their preferences. At this critical juncture, media companies that adopt the right content, brand, experience, and data and analytics strategies will be positioned to capture their attention, build brand loyalty, and win the streaming wars.