Bain & Company and Google surveyed US adults on COVID-19’s impact on their viewing habits.
The shutdown and social distancing requirements due to COVID-19 pandemic have boosted the usage of video streaming in the US. 79% of US households said they now watch ad-supported and paid streaming services. The usage of paid services has increased by 18% in the past six months.
While viewers reported they subscribe to more paid services today than six months ago, they do not wish to subscribe to many paid offerings. Consumers are only willing to spend on a maximum average of 3-4 paid subscriptions for more than six months.
But, the relaxation in social distancing and other COVID-19 response measures might affect viewers’ streaming habits. 26% of subscription viewers said they plan to cancel at least one paid subscription in the next one year.
[4 minute read]