WASHINGTON—When it comes to setting a budget for streaming services, most consumers cap their investment at $50 or less per month, according to a survey from Visual Objects.
The survey showed that 73% of consumers paid $50 or less for streaming services every month; 20% spend more than $50 per month.
A correlated effect of this is that 76% of consumers pay for just three or fewer streaming services—50% pay for two to three and 26% pay for one. Only 16% said they invest in more than three streaming services. In fact, according to Visual Objects’ survey, more people are on the lower side of the scale. The survey revealed 39% of people pay between $11 and $25 per month, while 26% pay $26-$50.
Visual Objects believes this could present a challenge for new streaming services like HBO Max and Quibi as they go up against the likes of the more established Netflix, Amazon Prime Video and Hulu, which hold large market shares. Compounding this is the presence of the coronavirus pandemic, which could be impacting consumers’ budgets.
The full report is available on Visual Objects’ website.
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