YouTube Is Beating Netflix in the Fight to Be a ‘Must-Have’: Data – "youtube" – Google News

When it comes to entertainment, it’s increasingly YouTube’s world.

The media industry is catching on to the fact that YouTube rules TV viewing, but the video giant’s dominance extends far beyond that.

The new data comes from Hub Entertainment Research, a 10-year-old market research firm that asked people what their must-haves are in entertainment services and platforms. Four of the top five are YouTube services, with 75% rating YouTube Premium a must-have. It’s joined in the top five by free YouTube, YouTube TV, and YouTube Music.

That’s a big change from a year ago, when just one YouTube service —the free one — was in the top five, rated a must-have by 67% (and tied with Netflix). Spotify continues to hold the top spot two years running, tied with YouTube Premium at 75%, while Netflix has been knocked off the top five list.


Chart showing YouTube offerings have climbed in the ranks of must-have services, per Hub Entertainment Research

Hub’s survey showed YouTube offerings have climbed in the ranks of must-have services.

Hub Entertainment Research



The findings come from Hub’s Battle Royale – Wave 5 study, for which it surveyed 3,000 US consumers ages 18 to 74 who were described as entertainment decision-makers with broadband.

YouTube has been a driver of subscriptions at Google. In February, it announced that it hit 100 million subscribers to YouTube Premium and Music, including free trials. YouTube Premium is a $13.99 per month service that includes features like ad-free viewing, offline viewing, and YouTube Music, which is ad-free. YouTube Music is $10.99 per month. YouTube TV is a $72.99 per month bundle of TV channels.

YouTube and Google’s enormous reach on phones and in living rooms have also made them targets of critics who say they’re anti-competitive. This week, 11 watchdog groups asked the Justice Department to investigate YouTube, saying it uses its dominance to squeeze competitors and force people to buy bundled services.

YouTube is far from the biggest in subscription terms. Its 100 million combined figure still puts it way behind Netflix (about 270 million globally) and Spotify (226 million). But if customers consider its services essential, they’re more likely to keep them — which is crucial to subscription services these days as people have been increasingly likely to cancel.

Netflix has the lowest cancellation rate compared to other subscription video streaming services (the data notably does not include YouTube Premium). At this point, many consider Netflix a utility.

But people subscribe to more than just streaming video and increasingly think they’re paying too much for subscriptions. So it can’t be a bad sign for YouTube to be a must-have — and it can’t be good for Netflix to fall off the list.

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Source Link: https://www.businessinsider.com/youtube-has-become-must-have-service-ahead-of-netflix-2024-6

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YouTube Is Beating Netflix in the Fight to Be a ‘Must-Have’: Data – “youtube” – Google News

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