October 15, 2024, 5946 characters
Frankfurt (OTS) – Amazon Prime is overtaking the competition in the battle of the streaming giants. According to the Simon-Kucher streaming study, streaming users are now more likely to choose Amazon Prime than Netflix. The currently most important category “Best Price” also goes to Amazon Prime. Netflix, on the other hand, wins “Best Selection” and Disney+ “Exclusive Content”. At the same time, all providers are struggling with poorer price-performance ratings. AppleTV+ is even threatened with a wave of cancellations.
– Those who only have one subscription are more likely to choose Amazon Prime (43%) than Netflix (29%), with Disney+ relevant as a third-party subscription
– Amazon Prime secures the “Best Price” category, Netflix “Best Selection”, Disney+ “Exclusive Content”
– “Best price” remains the most important purchase criterion, “wide selection” is becoming more important
– Price-performance rating drops for all providers; Disney + in particular is recording heavy losses
– Intentions to cancel are increasing for all providers: With Apple TV+, a full 41% are considering canceling their subscription
– Live content is becoming more popular and already accounts for 17% of streaming time
Anyone who has a streaming subscription primarily relies on Amazon Prime. The advantage is particularly clear for users who only have a subscription. Here, 43 percent rely on Amazon Prime and only 29 percent on Netflix. For users with two streaming subscriptions, the two competitors are tied. With three subscriptions, Amazon Prime (77 percent) is ahead again compared to Netflix (71 percent). As a third-party subscription, Disney+ (52 percent) also scores ahead of an improved RTL+ (21 percent).
“Amazon is in the fast lane”
“Amazon and Netflix remain the ‘top dogs’ among German streaming providers,” emphasizes Lisa Jäger, Partner and Managing Partner of Technology, Media & Telco at Simon-Kucher. “But: Amazon Prime is in the fast lane in the battle of the streaming giants!” This could also be because Amazon Prime secured victory in the “Best Price” category – probably also due to its bundle offer (premium shipping, exclusive product offers, Amazon Music, Prime Video). “The price remains the most important purchasing criterion,” says Jäger. “But: A wide selection is becoming increasingly important. Users no longer only look at the price; good content can therefore justify high subscription costs.”
Netflix wins in six categories
And Netflix in particular can score points with its content. In addition to “Best Selection,” Netflix wins five other categories (“Hot Content,” “New Content,” “User-Friendliness,” “Ad-Free,” “Automatic Recommendations”). Exciting: Disney+ dominates again in the “Exclusive Content” category, while Apple TV+ dominates in “Video Quality”, “Platform Diversity”, “Cancellation Flexibility” and “Discounts for Families/Couples”. “Although we see favorites in each category, overall the providers are often close together,” says Jäger. The conclusion? “Providers must differentiate themselves even more from the competition and be less interchangeable.”
More money for less performance?
When it comes to price-performance evaluation, alarm bells should ring for all providers. Users rate this as worse for all four major streaming providers compared to the previous year. Disney+ in particular has seen significant drops (from 68 percent to 56 percent) in terms of the proportion of good to very good ratings. As a result, Amazon Prime leads the ranking this year despite losses (from 65 percent to 60 percent). Netflix is still in third place (55 percent), Apple TV+ follows in fourth place (52 percent). “Users are noticing the price increases,” says Jäger. “This will be punished with worse ratings.”
Apple TV+ is threatened with a wave of cancellations
In the future, this assessment could become even more severe. Users are expecting further price increases from almost all streaming giants. Intentions to cancel are already increasing dramatically, even without taking price increases into account. AppleTV+ in particular is threatened with a wave of cancellations. A full 41 percent say they probably want to cancel their subscription. At Netflix, one in four users (25 percent) are considering canceling. Disney+ (22 percent) and Amazon Prime (17 percent) get off easier.
Live content is becoming increasingly popular
What can streaming providers inspire you with? Live content! Even though around a quarter of users are not yet familiar with the format, the offer is becoming increasingly popular. Live content already takes up 17 percent of streaming time. “Football, concerts, etc. – live streaming has long since become part of our everyday lives,” emphasizes Sophia Felgner, Director at Simon-Kucher. “Providers shouldn’t integrate and monetize across the board. Because around one in four people is not a fan of live content in a streaming subscription.”
*About the study: The representative Simon-Kucher Streaming Study 2024 was carried out by Simon-Kucher in April and May 2024 in collaboration with the independent market research institute Walr. 12,163 consumers in 12 countries worldwide (Germany: n=1,002) were surveyed about, among other things, streaming behavior, content preferences and willingness to pay. The press release refers to the results of the survey in Germany.
Further or in-depth study results for Episode 3 (only for press/media/partner companies) on request. The streaming study results from Episode 1 and Episode 2 are already available for download.
About Simon Kucher
Simon-Kucher is a global management consultancy with over 2,000 employees in 30 countries worldwide. Our focus: “Unlocking better growth”. We help our customers grow responsibly and sustainably by optimizing every aspect of their business strategy, from products and pricing to innovation, digitalization, marketing and sales.
With 37 years of experience in monetization and pricing, we are recognized as a global leader in pricing consulting and business growth.
simon-kucher.com
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