Be it a small OTT or a giant, though there are some big differences, one thing that unites them is their strategy of Password Crackdown. On paper, this is a strategy of the platforms where they limit password sharing and eventually restrict the number of users on one ID.
On a business basis, it is indeed beneficial for the platforms; all of them saw a ginormous rise when it comes to the statistics.
But what about the fans?
They are definitely having a tough time; a good chunk of the users were forced to take a new subscription. Now, that’s fundamentally not a bad thing, but the rising prices are contradicting the ambitions.
There is inclusion of ad-supported services with a lower price tag, but that doesn’t go along with the OTT experience
And as per the newest statistics, 33% of Americans claimed that they had to create a new account or subscription after the forced implication of the crackdown.
The report also reveals that 56% of users rely on shared accounts for streaming services. Additionally, a staggering 90% express intentions to quit these services if prices rise or sharing restrictions tighten in 2024.
There is one more relevant statistic:
In 2024, the percentage of individuals subscribing to streaming services surged to 96%, marking a notable increase from the 86% recorded in 2023. This trend underscores the growing popularity and adoption of streaming platforms among consumers.
So, though the statistics observe a hike, the experience surrounding this is extremely questionable. And that is a global phenomenon.