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Subscription Fatigue: Turn 64% of Consumer Struggles into an Opportunity
Transform subscription fatigue into lasting loyalty
Author: Syed Shahid Mehdi
Date: 15 October 2024
With ample availability of OTT content, what has become bothersome recently is OTT subscription fatigue. Haven’t we always known that too much of anything is good for nothing?
If not wholly, some of this has been evident in many users for some time now, leading to simultaneous unsubscribing from all OTT platforms.
The very thing that once seemed like a blessing—the abundance of content and platforms—is now a burden for many users. With increasing services vying for attention and a steady rise in subscription costs, people feel overwhelmed, frustrated, and fatigued.
What Leads to Subscription Fatigue
If I am not wrong the height of OTT consumption began mostly during COVID-19. No one could go outside, and OTT was their preferred entertainment besides making dalgona coffee. OTT platforms were booming at that time with a number of commercial and independent content. Not only for the platform owners but it was a win-win situation for the creators as well.
Viewers had ample options, and it was supposed to be best to have it all with just a basic internet connection. But things started to become overwhelming when one by one many joined the industry with huge content options and with a competitive subscription rate.
The scenario has not changed much since then which leads users to be fatigued over the choices, value, and better price. A study conducted by PWC suggests that 64% of consumers have canceled at least one streaming service in the last year because they felt overwhelmed by too many options or were trying to cut costs.
There are over 200 global OTT platforms we can see around. A maximum of them provides quality content with great value. It often gets hard for users to choose from the hundreds of OTT platforms that suit best their desired content. And decision paralysis is always on the plate because of such huge options.
Not only that, but fragmentation of content is also one more reason leading to subscription fatigue. For instance, shows that were once available on one platform are now scattered across multiple services due to licensing agreements. This content fragmentation has pushed consumers into a never-ending chase for their favorite shows, moving from one subscription to another.
Nearly 47% of U.S. consumers are frustrated by the growing number of subscription services they need to access their favorite shows and movies suggested in a report by Deloitte.
Also, less time and the rising cost of the subscription play a huge role in subscription fatigue. Users get used to some good series and if suddenly the price increases it creates unnecessary stress among them.
Can OTT Platform Deal the Subscription Fatigue
Certainly! The OTT craze is humongous among the users. Though there are lots of setbacks and destruction there are a huge number of audiences there. These audiences value quality content and keep looking for a platform that provides them with what they desire.
Not only the viewers but OTT platforms are the lifeline for many advertisers and content creators. Many independent creators and producers established themselves in these years just because of the availability of such over-the-top platforms. Hence, a carefully curated strategy could be a game changer for any OTT platform that thinks of different aspects such as users, creators, and advertisers.
What I mean is if OTT platforms bring all together and focus on an all-in-one platform that brings quality content at a low cost it can change the entire scenario of content consumption. It will not only be a single source for content consumption but the creators and advertisers can easily reach their audience with less effort. Isn’t it a win-win situation for all? And here comes the opportunity to stand out in the business.
Strategies to Deal Subscription Fatigue
Needless to say, subscription fatigue has become a significant challenge for both consumers and businesses. With a plethora of services competing for attention and finances, companies must adopt innovative strategies to keep customers engaged and loyal. Here are some effective strategies to deal with subscription fatigue:
Leverage Technology for Personalization
Personalization is the key to user retention. Using AI and advanced analytics should be norm to create a successful business. Companies must analyze user data to offer personalized recommendations that enhance user experience and keep customers engaged. Implementing features like predictive analytics can also help anticipate churn and allow for proactive retention strategies.
Curated Bundle Services
Bundling services is also an effective way to provide added value. By offering packages that combine multiple subscriptions at a discounted rate, businesses can create a compelling reason for customers to stay. Airtel Xstream, Tata Play Binge, Times Prime, and many such bundle services have become savior for the consumers who are dealing with subscription fatigue.
Quality over Quantity
To avoid overwhelming customers, companies must prioritize quality content. By investing in original and high-quality offerings that resonate with the target audience, businesses can differentiate themselves from competitors. This can include exclusive content, unique features, or tailored experiences that make subscriptions feel worthwhile. You know why Netflix is consumers favorite and is top choice for content consumption.
Well, flexible pricing models, simple subscription processes, social media engagement, and regular feedback are also among the top priorities that can turn these potential challenges into opportunities for growth and enhanced customer loyalty.
Foresight the Future
As viewers seek a balance between choice and cost, the industry will need to adapt to meet the demands of an audience that is looking for simplicity, value, and ease in an increasingly complex digital world.
As more users hit a saturation point, the OTT landscape is likely to continue evolving. We may see more services merging or offering broader bundles to appeal to fatigued consumers. Subscription fatigue will undoubtedly push the industry toward more flexible, affordable, and consolidated offerings.
The question is not just how much content is available but how it is curated, accessed, and priced in a way that feels sustainable for viewers.
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