Navigating the Streaming Landscape with Magid’s SubScape

In today’s rapidly evolving digital landscape, understanding the intricacies of the streaming market has never been more critical for success. At Magid, we’ve developed an innovative product called SubScape to illuminate this dynamic space and decode consumer behaviors – now based on over two years of data. Join Mike Bloxham, a leading expert in media and consumer research at Magid, as he guides us through essential insights into the transition from a growth-based to a share-based streaming market. In the following video, Mike explores the significance of understanding diverse subscriber segments and highlights strategies for effectively targeting and retaining key audiences to optimize your business approach in this competitive environment.

Watch the Video » Exploring SubScape with Mike Bloxham

Transitioning from Growth to Share-Based Markets

Just a few years ago, the streaming market was characterized by growth. New subscribers were pouring in, and services were thriving as people expanded their subscriptions. Fast forward to now, and the market has shifted gears. It’s no longer about growth but about capturing and maintaining market share. Think of it like a knife fight in a dark alley—fierce and competitive. 

The Importance of Understanding Different Subscriber Behaviors

In a share-based market, it’s vital to understand the audience at a granular level. Not all subscribers are created equal. This understanding informed our design of SubScape, allowing us to segment the US streaming population and track a robust set of metrics relating to satisfaction, attitudes, and behaviors across 30+ services.

Two such segments we’ve identified are the Loyalists and the Hypers: 

• Loyalists are the stable subscribers. They’re least likely to churn and often maintain subscriptions even if they’re not actively engaged. Losing a loyalist indicates a significant issue with the service, making them a segment to retain diligently as they are hard to win back.
• Hypers are habitual churners but they are also most likely to return. Voracious consumers, they switch between services easily and are trendsetters, often recommending shows and bringing new attention to platforms. To harness their potential, The goal should be to entice them to stay subscribed for a couple more months each year.

Tailoring Marketing Strategies 

Addressing these segments requires tailored marketing strategies. SubScape integrates with the Claritas identity graph, allowing marketers to identify household profiles and target them precisely. This approach is crucial for efficient acquisition and retention strategies, driving up the lifetime value of subscribers.

The Road Ahead

Operating in a share-based market necessitates innovative strategies for business growth and customer engagement. Our research with SubScape illuminates the path forward, providing insights to recalibrate how you connect with both current and potential subscribers.

Stay tuned as we continue to share our findings in future videos and articles, further unpacking the complexities of streaming behaviors and market dynamics.