Streaming services are grappling with high customer churn rates, but a novel approach by MyBundle, involving the bundling of streaming credits with broadband internet plans, has shown promising results. Research conducted by MyBundle indicates that offering $20 in monthly streaming credits alongside Norvado's 1 Gig fiber internet plan led to a streaming service churn rate of just 4.3% after 12 months. This figure stands in stark contrast to the industry average of 8.6% reported by Antenna, highlighting the potential of this strategy to significantly impact the streaming industry.
Jason Cohen, MyBundle's Co-Founder and CEO, emphasized the importance of the findings, stating, 'The concept of bundling content and connectivity is nothing new to the broader business of media and entertainment, however with this yearlong MyBundle research we now have strong empirical data that bundling streaming purchases with broadband works.' Cohen further noted that while new customer acquisition remains a priority for streaming services, reducing churn has emerged as a close second. The potential for a 50% reduction in monthly churn rates presents a remarkable opportunity for streaming services to stabilize their subscriber bases.
MyBundle's Streaming Choice program, already adopted by 21 of its nearly 230 broadband partners, offers flexibility in how streaming services are bundled with internet plans. Partners can choose to include streaming credits, pre-selected services, or allow customers to select their preferred services for a fixed period. This initiative aims to reduce friction and enhance customer satisfaction, thereby simplifying the streaming ecosystem for all stakeholders involved. For more information on how broadband and streaming services are evolving, visit https://www.mybundle.tv.
The implications of MyBundle's research are far-reaching, suggesting that the future of streaming service stability may lie in strategic partnerships with broadband providers. By addressing one of the industry's most pressing challenges—customer churn—this approach could redefine how streaming services attract and retain subscribers in an increasingly competitive market.
