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Streaming Audiences Prefer Original Content, Study Finds
By Movieguide® Contributor
A study conducted by the streaming platform Tubi found that the majority of millennials and Gen Z prefer to watch original shows and movies rather than franchises and remakes.
“Viewers are increasingly seeking fresh and innovative ideas that push the boundaries of what’s possible instead of rehashed versions of existing stories,” the study said, per IndieWire.
World Screen reported, “Tubi’s survey also found that Gen Z and millennial audiences are seeking diverse, original content from independent creators, with 74 percent preferring originals to franchises.”
The box office proves this desire for originality, with multiple big-budget franchises and remakes underperforming while new stories and fresh takes on established IPs dominated to market.
Unfortunately for streamers, user tastes are fickle, and while they prefer original content, they will settle for old favorites if they cannot quickly find a show or movie to watch. Netflix’s top 10 list, for example, is often filled with older shows, especially when there is not a new show capturing viewers’ attention.
However, the need for fresh content is also evident, as seen through Disney+’s difficulty with maintaining a strong user base. Though the platform is constantly adding new shows, the majority center around Star Wars or Marvel, something users are tired of receiving. Last year, this fatigue was felt when “Cancel Disney Plus” trended across social media due to rising prices, leading many users to realize they were unhappy with the site.
With a desire for new content and a need for old shows, the reality is that streaming services need to spend a lot of money on both to succeed in the current market. This is a grim reality for many streaming services that are already struggling to find a profit. Perhaps the majority of studios would do better to follow Sony’s lead and focus on licensing their content rather than trying to create a platform of their own.
For now, however, studios are content to throw their hats in the ring when over 99% of U.S. households subscribe to at least one service and spend, on average, $120 per month on TV services.
Movieguide® previously reported on the streaming industry:
A new report revealed that subscriber growth on streamers halved in 2023, signaling a shift in the industry and the end of a period of massive growth.
Subscriber growth fell to 10.1% last year, down from 21.6% during 2022. During that time, however, streamers proved resilient as the report uncovered the rates of users resubscribing after previously canceling their subscriptions. Within a three-month period, 25% of consumers were “won-back,” while nearly 40% resubscribed to a previously canceled subscription within 12 months.
Rather than relying on tremendous subscriber growth as platforms have in the past, this data proves that streamers need to focus more on their current user base. Fortunately, this change in mentality has already occurred, and many platforms are attempting to find profitability under their current subscriber counts rather than depending on major growth in the future.
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