UNIT 6: SOCIAL MEDIA AND THE INTERNET
My name‿ is Leo. My househol(d) pays for three streaming subscriptions,│ an(d) when we cancelled one recently,│ nobody noticed for two weeks,│ which‿ is‿ a fairly eloquen(t) comment‿ on the value we thought we were receiving.
The industry is‿ in‿ an‿ awkwar(d) position. Every platform requires‿ exclusive conten(t) to justify a subscription,│ so a catalogue that was│ once‿ in one place has been fragmented‿ across six,│ an(d) the consumer‿ is‿ expected to fund‿ all‿ of them. That‿ is subscription fatigue,│ and‿ it‿ is not primarily a matterma-der‿ of price sensitivity;│ it‿ arises from‿ a perception│ that youthatcha are paying more for less. Licensing‿ arrangements mean‿ a series can vanish‿ overnight,│ which makes‿ a subscription feel like‿ a rental rather than‿ a collection,│ an(d) the algorithm that recommends your nex(t) programme‿ is very good‿ at persuading you│ that your portfolio is still worth‿ it.
What‿ I expect‿ is consolidation. Two or three platforms will‿ absorb the rest,│ an(d) passwor(d) sharing,│ which companies‿ are currently restricting,│ will be tolerated‿ again│ once they realise‿ it was never the principal threat to revenue. In the meantime‿ I apply one condition. If‿ a subscription costs‿ as much‿ as‿ a cinema ticket‿ every month,│ it has tohasta be justifiable‿ in those terms,│ an(d) mine currently are‿ only just.