By: The BitMar Team.
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The cost of streaming services continues to rise, leaving many consumers frustrated with the trend. In fact, a recent Deloitte survey found that 25% of consumers canceled a streaming service in the past year due to rising costs. This raises the question: Can entertainment providers do more to make streaming more affordable? https://www2.deloitte.com/us/en/insights/industry/technology/digital-media-trends-survey.html
Some industry experts propose a pay-per-minute model as a potential solution. This model would allow consumers to pay only for the content they watch, instead of a flat monthly fee. You would not pay for an entire month of Disney+ if you only want to stream "Loki," for example. This approach could align with the rising popularity of "FAST" channels (Free Ad-Supported Streaming Television), which offer a more targeted viewing experience. As reported by Rapid TV News, FAST channels are gaining traction across Europe, indicating a potential consumer preference for more streamlined content consumption.
A pay-per-minute model could benefit both consumers and streaming services. Consumers could save money, and streaming services could attract new subscribers with a more flexible and affordable pricing model. Research from Parks Associates suggests that flexible pricing models can significantly reduce churn and improve customer satisfaction in the streaming industry. https://www.parksassociates.com/whitepapers/flexible-pricing
Of course, a pay-per-minute model also presents some challenges. Streaming services would need to develop new billing systems, and consumers would need to adjust to a new way of paying for entertainment. A study published in the Journal of Media Economics found that consumer perception of value plays a crucial role in the acceptance of new pricing models. Therefore, clear communication and demonstration of the benefits of pay-per-minute would be essential for its success.
As the cost of streaming continues to rise, a pay-per-minute model may become an increasingly attractive option for consumers and streaming services alike. This model has the potential to make streaming more affordable, transparent, and fair. It will be interesting to see if this model gains traction in the coming years, particularly as the streaming landscape continues to evolve with the emergence of new technologies and consumer behaviors.
Currently, next-generation streaming platforms – like: BitMar – may provide you the most affordable form of on-demand streaming entertainment. BitMar provides all-in-one streaming service, for life, for a one-time payment, of: $99.99 USD. It can connect you to millions of on-demand movies, TV shows, channels, videos, and songs (from many different sources on the Web), on the screens that you already own. In fact, BitMar provides access to more movies, and TV shows, than: Cable, Satellite, Netflix, Disney Plus, Max/HBO Max, Amazon Prime Video, Apple TV+, Peacock, and Hulu – combined – and more songs, than: Pandora, Spotify, Amazon Prime Music, and Apple Music—combined. You may learn more, at: BitMar.com/.