Benzinga Asks: Do You Pay For More Than 3 Streaming Services?

For years, consumers and investors heard the phrase “cut the cord,” which meant ending a cable television subscription.

The rise of streaming service providers and monthly plans has put a focus again on a huge market that may not have room for all players to win. Monthly subscriptions of $5 to $20 a month from the major players add up and some consumers are having to choose between which ones to keep.

Benzinga Poll: Benzinga polled its followers on Twitter recently to ask, “Do you own more than 3 streaming services?”

The question received 431 votes and the results were as follows:

• Yes: 53.4%
• No: 38.1%
• I Share: 8.6%

Related Link: Here Are The Top 10 Most Watched Netflix Shows – And No, ‘Tiger King’ Is Not #1

The Results: One user @here4stonks1 listed four that they subscribe to, “Yep, D+ $DIS, Hulu $DIS, $AMZN and $NFLX.”

The most well-known and largest streaming providers are Netflix Inc (NASDAQ: NFLX); Amazon.com, Inc.’s (NASDAQ: AMZN) Amazon Prime; HBO Max, owned by AT&T Inc (NYSE: T); and Disney+ from Walt Disney Co (NYSE: DIS), which is also the majority owner of Hulu.

There are also smaller streaming providers such as Peacock from Comcast Corporation (NASDAQ: CMCSA), which owns the other portion of Hulu; Discovery+ from Discovery Communications Inc (NASDAQ: DISCA) and Paramount+ from ViacomCBS Inc (NASDAQ: VIAC).

Sports leagues also offer some streaming options that could be subscribed to by consumers. Along with offering Disney+ and Hulu, Disney also offers a sports-based streaming platform with ESPN+.

The fact that more than 50% of voters own more than three streaming services could be a sign of there being room for many players in the market.

With more than 200 million subscribers for Netflix and 100 million for Disney+, there is a good chance those are the two biggest platforms owned by voters.

Another important item to consider is churn, as some consumers sign up for platforms based on one show or event and then stop subscribing. Disney saw a surge in subscribers around the release of "The Mandalorian" and some Marvel content. The release of a new Hawkeye show could help the company in November.

Netflix has several of its biggest shows launching with updated seasons in the fourth quarter of this year, which could provide a strong subscriber figure.

Peacock saw surges in subscribers around the Winter Olympics and the release of "Boss Baby: Back in Business."

Photo: Glenn Carstens-Peters on Unsplash