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Whip Media: HBO Max, Apple TV+ Making Consumer Gains
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HBO Max has taken the lead among SVOD providers when it comes to “virtually all satisfaction and loyalty measures,” according to a new report from Whip Media.
The June “Streaming Satisfaction Report, Evolving Perceptions of Value: The Shifting Sands of SVOD” found that Netflix has fallen from the top when it comes to perceived value, thanks to increased competition and a recent price increase. HBO Max is now on top, while Apple TV+ made the biggest gains in customer satisfaction and likelihood to keep a service, thanks to audience enthusiasm for its slate of original series.
“When we released a similar analysis in 2021, Netflix was among the leading SVODs in customer satisfaction and was the runaway leader as the indispensable streaming service,” the report reads. “The platform was at the top of its game, enjoying a lead it built in an environment of minimal competition. But, after a period of remarkable growth that was accelerated by the COVID-19 pandemic, the SVOD marketplace has matured. Consumers started comparing Netflix’s content with that of its new competitors, taking into account its recently increased price, and the perception of the service took a hit.
“Perception met reality on April 19, 2022, when Netflix announced a net loss of 200,000 subscribers worldwide, including over 600,000 in the U.S./Canada region 1. Wall Street erased a third of the company’s value in one day. As a result, observers re-evaluated the company’s future, as well as the subscription video business as a whole.”
The data in Whip Media’s survey — taken from a survey of nearly 2,500 users of the company’s TV Time app in the U.S. — listed HBO Max, Disney+ and Hulu as the top three services in terms of overall satisfaction, with Netflix following to fourth. Paramount+, Apple TV+ and Amazon were next on the list.
“Most SVOD users plan to hold onto their services, but across a range of likelihoods. Like last year, HBO Max, Hulu, and Disney+ form the top tier on this question,” the report reads. “Amazon is there too, but given their lower satisfaction scores, this likely has much to do with other benefits of Prime membership. Netflix saw the biggest decline, a 12-point decrease. It was top of the list last year but is now ranked fifth. Apple TV+ made the strongest gain, up 19 points.”
To access the full report, click here.
