As the SVOD landscape matures, it is becoming increasingly complex for broadcasters to emerge profitable. The market is saturated with several streaming service providers aboard. On the consumer side, there’s rising subscription fatigue and a tendency to reduce spending. This is manifesting in rising churn levels and impacting broadcaster revenues.
According to Antenna Research, churn has increased +34.5% YoY, from 4.6% in June ‘22 to 6.1% in June ‘23.
Moreover, operations are becoming more complex, and their high costs are becoming a concern in broadcasters' profit equations. In 2023, many leaders shared that streaming content investment is peaking.
What should broadcasters do to grow in this environment?
Efforts must focus on Raising ARPU (Average Revenue Per User) and reducing churn. This is necessary to raise customer LTV (lifetime value) and boost growth.
ARPU * Retention = LTV
This requires interventions like continually monitoring industry trends, technological advancements, and user preferences while balancing operations, technicalities, and costs. That’s impossible without using specialized subscriber management tools.
Read More: Is Your Subscriber Management System an Obstacle in ARPU Growth?
This blog explores how Core, a subscriber management solution tailored for media and entertainment businesses, helps you balance growing and future-proofing your business.
What is Core?
Core is a comprehensive subscriber management solution tailored for OTT video platforms. It combines data from different sources and unlocks an efficient, streamlined data management process. Broadcasters can leverage it to implement the various subscriber management functions and, most importantly, grow.
Core users have
- Improved CLV by 30% through personalized recommendations and offers.
- Clocked in higher revenues by 15% through targeted coupon campaigns.
- Improved customer lifetime value by 15% a year through subscription upgrades and downgrades.
How does Core prime broadcasters for SVOD success?
Core has the features that OTT broadcasters need to streamline various aspects of subscriber management. It’s built to address broadcasters' key operational, technical, and financial challenges when trying to drive sustainable growth. Let’s explore this in greater detail:
A. Simplifies offer management across channels and monetization models
- Product entitlement: Core allows broadcasters to set up different offers for their customers and boost conversions, such as subscriptions, season passes, live pay-per-view, etc.
- Localization: Broadcasters can use Core to create offer localizations, adjust offers, prices, and currencies, and restrict purchases based on user geolocation.
- Multi-channel viewing: It allows extending user access to the content library using different devices, web, and native apps, including mobile apps. In doing so, Core harmonizes these platforms with a unique API framework for synchronizing externally originated subscriptions.
B. Helps you drive your ARPU with built-in retention and upselling strategies
- Marketing: It aids broadcasters in creating strategic promotional campaigns and coupons, such as free trials, festive offers, gifting, subscription upgrades/downgrades, etc.
- Customer service: Broadcasters can manage customer subscriptions, access transaction data, and handle refunds using Core (in conjunction with Merchant and Hi5).
- Seamless customer experience: Core enables broadcasters to extend seamless options to viewers to create, access, and manage their accounts with an intuitive and easy-to-use UI. This goes a long way in building an optimized experience and keeps viewers satisfied.
C. Creates one source of truth across all apps and data sources
- Combines data from multiple sources: When implementing growth strategies, broadcasters often struggle with siloed systems. It’s challenging to manage data from various distribution channels, exchange information across departments, etc. This hinders strategic execution and stalls growth. Core helps to overcome this by combining data from multiple sources. This unlocks an efficient, streamlined data management process and facilitates subscriber management functions.
- Integrates with other apps: Core is SaaS-based and comes with rich integrations. This enables the quick launch of up-to-date OTT services while fully supporting a multi-channel strategy and data integrity.
- Analytics: Core enables tracking platform performance through KPIs and financial reports through its sleek dashboard. This way, broadcasters can stay in control.
What about pricing?
Core offers transparent, scalable pricing. There are no set-up fees or hidden costs that overstrain budgets. Its efficiency in streamlining and automating tasks reduces manual efforts and introduces further cost savings. Finally, as SaaS-based, the solution is continually updated without incurring additional charges.
Bottom line: Core boosts DTC streaming growth
With its diverse functionality, Core offers ease of use, flexibility of monetization and integrations, and an opportunity to pursue strategic growth opportunities relentlessly. There’s tremendous value in using the entire SRM™ suite, including Core. Leveraging the stack together provides a 360-degree service for DTC streaming platforms and helps to unlock the real growth potential.
Want to introduce strength and flexibility at the heart of your subscription business and boost ROI?
