Disney Plus has made a significant move in the streaming industry, leaving Netflix with potential competition to consider.
Serving Up More Than Streaming: A Battle for Loyalty
Let's talk about those regular calendar reminders to resort back to our old streaming service choices. The price of these entertainment platforms often gives us a tightrope walk, restricting us from diverting our bills towards multiple subscriptions. But the constant fluctuation of free trials and no contractual obligations allow us a certain degree of flexibility. But the question here is, are the streaming services themselves as adaptable when it comes to keeping their subscribers?
Disney Plus seems to have cracked the code with its 'Perks' program, designed to give US users 12 non-streaming offers, from a complimentary DoorDash DashPass membership to 20% offAdidas. This token of appreciation aims to do more than just say "thanks," but rather, convince subscribers to stick around: "Hey there, DoorDash-loving Adidas wearers, don't leave us yet!"
Whether or not these specific perks would strike a chord with you would depend on your personal preferences, of course. For instance, I might consider myself reeled in for the half-year DoorDash offer, but then likely cancel afterwards. However, Disney Plus plans to expand this list and the concept itself has potential.
I've previously suggested that it'd make sense for music and movie streaming companies to join forces and bundle services at discounted rates. For example, Netflix and Spotify for £3/$3/AU$5 off the combined monthly price. Going beyond the library by offering retail and entertainment experience discounts is another attractive route for consumers, I believe.
For instance, would I be swayed to switch from Tidal toQobuz if the latter offered me a 10% discount on gig tickets from Ticketmaster? Or would I remain steadfast with Netflix if my subscription gave me weekly discounted cinema tickets or savings on Uber rides? Quite likely.
Amazon Prime has long been in a prime position to offer additional perks, with its Prime package encompassing Prime Video, a limited music and book catalogues, exclusive Amazon deals, and free (often next-day) delivery. I think it's safe to say that Prime Video wouldn't have as many users as it does today if it weren't for the overall Prime package.
Similarly, Apple Music's One subscription also bundles music and video streaming services with its superior news and storage options—appealing only to devoted Apple enthusiasts, naturally.
In its initial days, MUBI used to offer subscribers a free weekly handpicked cinema ticket. It was a genuine boon; I used it frequently, and it was enough to keep me subscribed. Netflix might believe its vast content library justifies its £12.95/$17.99/AU$18.99 monthly fee, but the competition is only getting tougher while prices and customer expectations continue to soar.
Does exceptional content always warrant such a hefty price tag? I'm not so certain. Disney's offering of extra incentives for subscribers to stay loyal in the US (hopesplly followed by other markets) will only put pressure on competitors to offer more than just the library offerings, no matter how impressive they may be.
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By partnering and bundling services, and providing retail and entertainment experience discounts, streaming companies could effectively strength their bond with subscribers. It all boils down to keeping users engaged and loyal by offering tangible value beyond the content itself.
- The streaming services themselves might need to adapt more to keep their subscribers, as Disney Plus has shown with its 'Perks' program.
- This program offers non-streaming benefits, such as a DoorDash DashPass membership and 20% off Adidas, to US users.
- The aim is to convince subscribers to stay by providing tangible value beyond the content, such as retail and entertainment experience discounts.
- I previously suggested that music and movie streaming companies could bundle services at discounted rates, like Netflix and Spotify.
- For instance, I might switch from Tidal to Qobuz if the latter offered a 10% discount on gig tickets from Ticketmaster.
- Amazon Prime already has a strong position with its Prime package offering retail and entertainment discounts, and tech news, in addition to streaming services and delivery.
