As competition in the streaming game increases every month, public reception of various streaming services has undergone a lot of shake-ups. In 2021 and 2022, a company called Whip Media surveyed streaming users about their satisfaction with different streaming services. They asked a multitude of questions, including overall satisfaction, likelihood to keep a service, quality of content and satisfaction of pricing vs. value given. The results of this study bring to light some interesting findings.
First, Netflix – the platform most associated with streaming services – had some very large drops in customer satisfaction from 2021 to 2022. Overall satisfaction dropped 10%, from 90% to 80%. Additionally, the likelihood of users keeping Netflix dropped from 93% to 81%. Netflix had the lowest value satisfaction out of all the streaming services at 62%, meaning users do not believe that the cost of Netflix justifies the quality of content they are receiving from the service.
In contrast, HBO Max has appeared as the front-runner in terms of overall satisfaction, quality of content, likelihood of keeping the service and value compared to price. Additionally, other streaming services saw a jump in customer satisfaction: Apple TV+ saw the largest jump year-to-year, from 62% in 2021 to 76% in 2022; Peacock also had a large jump in satisfaction, from 62% in 2021 to 68% in 2022.
While Netflix is still regarded as one of the top streaming services, these numbers seem to coincide with real-life outcomes, as Netflix has posted two straight quarters of subscriber loss – the first time in their history this has happened. Netflix has the lowest score in the cost/value chart; combined with the fact that their main competitors HBO Max and Disney+ have a plethora of content and more affordable pricing, it’s obvious that users aren’t seeing the value with the constant rising costs.
Whip Media Streaming Satisfaction Report: https://www.whipmedia.com/wp-content/uploads/2022/06/US-Streaming-Satisfaction-Report-2022.pdf