Old shows gain new life on streamers, but content still hard to discover
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Despite a slowdown in the production of new shows due to recent Hollywood strikes, viewers are finding comfort in familiar, older series, according to the latest “Conquering Content” market research report by Hub Entertainment Research.
The report, conducted among 1,600 U.S. consumers with broadband who watch at least one hour of TV per week, reveals a shift in viewing habits.
The survey, which took place in October 2023, explored how consumers discover new across different platforms and providers.
One of the key findings is the continued loyalty of consumers to streaming services, despite a decrease in new content. The appreciation for the plethora of TV shows available, a hallmark of what’s been dubbed “peak TV”, has seen a noticeable uptick. Nearly half more viewers than in 2020 are now grateful for the vast selection of shows at their fingertips.
This abundance of choice has also highlighted the importance of user-friendly search and discovery tools on streaming platforms. Over 60% of those surveyed expressed a preference for platforms that offer superior search and recommendation features, a figure that’s up from 56% last year.
Interestingly, the appeal of “new to me” shows is on the rise. Nearly two-thirds of respondents reported that their current favorite show is an older series, a significant increase from 54% in 2021.
For instance, “Suits,” a show that concluded in 2019, emerged as one of the most mentioned favorites.
Authors of the report, including Jason Platt Zolov, note that while the production of new shows has slowed, viewers remain loyal to streaming services that can effectively match them with the right content.
This trend is further fueled by studios re-licensing shows to various services – including FAST providers – offering a wealth of content that is either new or “new to them.”
Jon Giegengack, founder and principal at Hub, points out that the era of “Peak TV” has left behind a vast array of quality shows that many viewers missed when they were first released. This backlog of content is not only keeping audiences engaged but is also promising for the licensing of exclusive shows to new services.