Looks like that Netflix price hike was worth it to most people.
Every time a new streamer announces a service, I wonder if it will steal any power from Netflix, but the titan keeps rolling. Even as Amazon and Disney gain ground, Netflix is still the people's champ.
According to Morgan Stanley Research, Netflix is the top dog when it comes to the streaming wars. With people preferring their original content way more than anyone else's, it just crushes the competition. The research shows the average U.S. household now pays for 2.5 streaming-video services, which is up from 2.3 in 2020 and 1.8 in 2019. Among consumers who subscribe to any SVOD service, the average increases to 3-5 services. The analyst firm estimates that there were more than 300 million streaming subscriptions in the U.S. as of year-end 2020.
Another staggering number? More people don't know what they prefer than don't prefer Netflix.
The survey included more than 25 streaming services, including 18 paid streamers. For the study, Morgan Stanley’s AlphaWise research unit polled 3,100 U.S. adults representative of the overall population. The survey has a margin of error of +/- 1.5% at a 95% confidence level.
Netflix is reportedly spending around $19 billion in content just in 2021 alone, so it seems like this investment is paying off.
Is Netflix your top choice too? Let us know what you think in the comments.