The issue for Paramount+ (and each different streamer)? Everybody already has Netflix.

Paramount+, the most recent entrant within the streaming wars, launches at present, promising a mixture of traditional TV reveals and flicks, sort-of-early entry to some Hollywood blockbusters, and a few reboots of stuff you didn’t know you needed rebooted: Welcome again, Frasier Crane.

However in some methods, the stuff that ViacomCBS’s new service presents could also be much less necessary than the timing of its launch. It comes after each different large media firm has rolled out its personal streaming service. Which suggests Paramount+ is coming into a really crowded market.

And meaning, most certainly, that ViacomCBS isn’t simply attempting to get somebody to pay $10 a month for Paramount+ — it additionally most likely wants them to drop one thing else. Antenna, a subscription analytics startup, says US shoppers subscribed to only 1.5 streaming providers in January 2021.

Two years in the past, when streaming providers nonetheless just about meant Netflix and Hulu, that quantity was at 1.25. Which implies that although we’ve seen a slew of providers debut lately, most individuals nonetheless aren’t paying for them — and even when they do take out their bank card to enroll, they’re more likely to cease paying for them after sampling.

Antenna, which says it makes use of information sampled from on-line invoice cost providers to evaluate what persons are really spending cash on, has laid out the problem dealing with ViacomCBS fairly clearly within the information units under. However the easiest method of summing it up could also be this fashion: (Nearly) everybody already has Netflix.

This chart, for example, tells us that 75 % of people that newly bought Netflix within the first half of 2020 are nonetheless paying for the service — the next survival charge than all of its main streaming opponents. In the meantime, solely 34 % of latest 2020 Apple TV+ subscribers are nonetheless paying for the service now. (Antenna information doesn’t embrace streamers who’re getting free providers from promotions like Disney’s Verizon bundle, or the free Apple TV+ trial Apple presents prospects who purchase some Apple {hardware}, like new iPhones.)

And sure, some individuals — perhaps the individuals studying this text — actually do subscribe to a lot of completely different streaming TV providers. However it’s a really small minority.

In the meantime, Netflix prospects had been much less possible than different streaming subscribers to pay for the rest — which presumably has one thing to do with the truth that (nearly) everybody has Netflix. It’s the streaming starter bundle: You get it first after which perhaps take into consideration including one thing else.

The great news for ViacomCBS, in a method, is that individuals who subscribed to its present providers — CBS All Entry, which is getting repurposed into Paramount+, and Showtime — are already extra more likely to subscribe to one thing else too.

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