Paramount +, the newest participant in streaming wars, launched today, promising a combination of classic TV shows and movies, some early access to some Hollywood blockbusters and some restarts of things you didn’t know you wanted to restart: Welcome back, Frasier Crane.
But in some ways, the things that the new ViacomCBS service offers may be less important than time since its launch. This happens after every other major media company has introduced its own streaming service. Which means Paramount + is entering a very crowded market.
And that means that ViacomCBS is probably not just trying to get someone to pay $ 1
Two years ago, when streaming services still largely meant Netflix and Hulu, that number was 1.25. Which means that although we’ve recently seen the debut of a number of services, most people still don’t pay for them – and even if they take out their credit card to register, they’re likely to stop paying for them after sampling.
The antenna, which claims to use data taken from online bill payment services to assess what people are actually spending money on, has challenged ViacomCBS quite clearly in the datasets below. But the easiest way to summarize it might be as follows: (Almost) everyone already has Netflix.
This chart, for example, tells us that 75 percent of people who received Netflix in the first half of 2020 still pay for the service – a higher survival rate than all major streaming competitors. Meanwhile, only 34 percent of new Apple TV + subscribers in 2020 still pay for the service. (Antenna data does not include streamers that receive free promotional services such as Disney’s Verizon package or the free trial of Apple TV + that Apple offers to customers who purchase Apple hardware, such as new iPhones.)
And yes, some people – maybe the people reading this article – do subscribe to many different streaming TV services. But this is a very small minority.
Meanwhile, Netflix customers are less likely than other streaming subscribers to pay for anything else – which probably has something to do with the fact that (almost) everyone has Netflix. Startup streaming package: You get it first and then maybe consider adding something else.
The good news about ViacomCBS, in a sense, is that people who have subscribed to its existing services – CBS All Access, which is becoming Paramount + and Showtime – are now more likely to subscribe to something else.