You don’t need me to tell you that Netflix is the leader in subscription streaming video. It has the most global subscribers (231 million worldwide, as of today), it was the first major mover in the space, and, as revealed in the new data below, it enjoys the strongest brand equity of any of the streamers. No surprise there. But the pecking order after Netflix is a much more open and interesting question.
That’s what Puck wanted to determine in our first original research study: Beyond subscriber numbers and churn rates and ARPU, how do consumers actually feel about the various services that consume so much of their time? Do they like Netflix or HBO Max more? Do they think Paramount+ is a good value and can trust its programming? When they watch a show they enjoy, do they even remember which streamer they watched it on?
Those are all questions that contribute to something that doesn’t get talked about enough on earnings calls or at analyst conferences: brand attachment. We’re leaving the TV era and entering the Streaming era, and the streaming brands that earn and sustain customer affinity will likely be the ones that thrive long-term. That’s even more important because of how easy it is for someone to cancel a service these days. To make the transition more difficult, some of these legacy companies that were used to wholesaling their TV brands to be sold by MVPDs—Paramount Global, NBCUniversal, for instance—have been forced to build new brands for streaming and sell them directly to the consumers. That’s tough.