Tokyo, 23 December, /AJMEDIA/
Six in seven consumers globally (86%) want an all-in-one platform to simplify their entertainment experiences with video streaming, fantasy sports, social media, ecommerce and more, according to “ Reinvent for growth,” a new report from Accenture (NYSE: ACN).
As part of its second annual global entertainment study, Accenture surveyed 6,000 consumers to understand their preferences and behaviors regarding their online entertainment experiences. Four in 10 respondents (41%) said they would pay for an all-in-one platform for their entertainment services. In addition, three in five (61%) want the ability to share their streaming profiles across platforms to allow for better personalization of content.
“Standalone streaming services are running up against some simple facts: There are limits to what consumers will pay for and only a certain amount of complexity and options that they are prepared to deal with,” said John Peters, a managing director in Accenture’s Media & Entertainment industry practice. “It is time to reimagine entertainment ecosystems so that media companies can move to profitable growth by helping consumers get everything they need and want.”
Other findings from the report further highlight the need for media organizations to reconsider their operational and content strategies:
Accenture’s report also identifies three emerging roles for entertainment companies that are competing for consumers’ time, attention and money:
“The future of the media industry is moving toward aggregated platforms,” said Imran Shah, a managing director with Accenture’s Communications, Media & Technology industry group. “These platforms will achieve two crucial outcomes — creating inclusive, lower churn services and bundles that will drive revenue for media companies, while delivering experiences that enable consumers to easily find and access content.”
Research Methodology
Accenture conducted research to gain an understanding of consumers’ preferences, beliefs and behaviors on their online entertainment experiences. The online survey of 6,000 consumers aged 18+ in 10 countries (Australia, Brazil, Canada, Germany, India, Italy, Japan, Spain, the UK and the U.S.) was designed to identify significant changes to the existing direct-to-consumer media regime and offer suggestions for brands across the media spectrum to adapt their model to be more relevant and successful with customers. Fieldwork was conducted between October and November 2022.
Oxford Economics assisted in developing the survey, carrying out fieldwork, analyzing the data, and establishing key narratives. The collection of 2021 data was done by a different partner. To ensure appropriate comparisons, the samples for both 2021 and 2022 studies have been adjusted to have a similar structure.
© Business Wire 2022.
