Six in Seven Customers Need Simplicity in Leisure Experiences, Accenture Report Finds
“Reinvent for Progress” report highlights how media corporations can enhance consumer experiences and drive income with new leisure ecosystems
NEW YORK; Dec. 21, 2022 – Six in seven shoppers globally (86%) need an all-in-one platform to simplify their leisure experiences with video streaming, fantasy sports activities, social media, ecommerce and extra, in line with “Reinvent for progress,” a brand new report from Accenture (NYSE: ACN).
As a part of its second annual world leisure examine, Accenture surveyed 6,000 shoppers to grasp their preferences and behaviors concerning their on-line leisure experiences. 4 in 10 respondents (41%) mentioned they’d pay for an all-in-one platform for his or her leisure companies. As well as, three in 5 (61%) need the flexibility to share their streaming profiles throughout platforms to permit for higher personalization of content material.
“Standalone streaming companies are operating up in opposition to some easy info: There are limits to what shoppers pays for and solely a specific amount of complexity and choices that they’re ready to take care of,” mentioned John Peters, a managing director in Accenture’s Media & Leisure business follow. “It’s time to reimagine leisure ecosystems in order that media corporations can transfer to worthwhile progress by serving to shoppers get the whole lot they want and wish.”
Different findings from the report additional spotlight the necessity for media organizations to rethink their operational and content material methods:
- A couple of-third (35%) of shoppers unsubscribed from no less than one of many high 5 streaming video-on-demand companies within the final 12 months, and 26% mentioned that they plan to chop a number of within the subsequent 12 months.
- Greater than seven in 10 shoppers (72%) reported frustration at discovering one thing to look at, up 6 share factors from final yr.
- Greater than half (55%) of shoppers mentioned they’re overwhelmed by the variety of streaming companies to select from, with 26% saying it will possibly take them greater than 10 minutes to choose a streaming alternative (up from 17% final yr).
Accenture’s report additionally identifies three rising roles for leisure corporations which might be competing for shoppers’ time, consideration and cash:
- Viewers aggregators are platform corporations with a diversified enterprise mannequin that monetize consideration and engagement immediately and not directly by tying a number of leisure and different companies collectively in a single place.
- Viewers cultivators will create and effectively monetize leisure in a single or a number of varieties (e.g., video, music, gaming and so on.) by understanding their core viewers, specializing in content material/value effectivity, and guaranteeing that they’re included in viewers aggregator platforms and bundles.
- Content material retailers will deal with making the absolute best content material while not having to monetize the engagement their content material achieves.
“The way forward for the media business is transferring towards aggregated platforms,” mentioned Imran Shah, a managing director with Accenture’s Communications, Media & Know-how business group. “These platforms will obtain two essential outcomes — creating inclusive, decrease churn companies and bundles that can drive income for media corporations, whereas delivering experiences that allow shoppers to simply discover and entry content material.”
For extra insights and findings on the drivers behind media and leisure reinvention, click on right here.
Accenture carried out analysis to achieve an understanding of shoppers’ preferences, beliefs and behaviors on their on-line leisure experiences. The web survey of 6,000 shoppers aged 18+ in 10 international locations (Australia, Brazil, Canada, Germany, India, Italy, Japan, Spain, the U.Okay. and the U.S.) was designed to establish vital modifications to the prevailing direct-to-consumer media regime and supply ideas for manufacturers throughout the media spectrum to adapt their mannequin to be extra related and profitable with prospects. Fieldwork was carried out between October and November 2022.
Oxford Economics assisted in growing the survey, finishing up fieldwork, analyzing the information, and establishing key narratives. The gathering of 2021 knowledge was completed by a unique associate. To make sure acceptable comparisons, the samples for each 2021 and 2022 research have been adjusted to have the same construction.
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