The extreme variety on streaming platforms is overwhelming to many consumers, according to a recent report published by a global marketing research firm.
"While cost always plays a role in any decision to add or subtract services, the abundance of choice has survey respondents feeling overwhelmed by too many options as well," reads the report from the Nielsen Corporation. "The list of unique program titles in the U.S. tops 817,000 and continues to grow."
"Nearly half (50%) say that the increase in options makes it challenging to find what they're looking for, which represents another consideration for companies seeking to acquire new customers," the report added.
The overwhelming nature of streaming has many consumers pining for content bundles similar to those offered by satellite and cable companies. According to Nielsen's report, 64% of consumers surveyed noted that they "had hopes" for streaming bundles.
Some companies have already started bundling, such as Disney (NYSE: DIS), which offers bundles including Hulu, Disney+, and ESPN+. Nielsen has also proposed that companies innovate content recommendations, including features such as customized movie posters that match user preferences.
Despite the overwhelming choices that make settling in to binge a new show harder, consumers can't get enough of streaming. According to the report, an incredible 93% of respondents said they plan to keep their existing services or purchase an additional service. The number of consumers with multiple streaming subscriptions has risen over the last few years, with the number of Americans paying for four services up to 18% compared to 7% in 2019.
Despite the rise of streaming, live TV still claims a large chunk of consumer engagement. Per the report, the average American adult spends just under 5 hours watching TV every day. TV has continued to hold its lead over streaming for some time, with Nielsen noting in 2021 that streaming had gained ground but still came second.