In a new GfK survey, only 9% of consumers said they would be likely to use an investment advisory service that offered just digital (text or online chat) contact with human advisors.
A team of four students from Aurora University has won GfK’s fifth annual Next Generation (“NextGen”) Competition, which gives undergraduates firsthand experience in designing and executing market research projects.
GfK’s Anna Maria Vitek, SVP and General Counsel for the Americas, will be joining five other women general counsels (GCs) at a New York City Bar panel discussion tonight. The topic for the evening will be “The Power of the Purse: How Women General Counsel Supporting Women Outside Counsel Makes Good Business Sense.”
GfK has appointed Stacy Bereck– a seasoned leader of high-performing market research teams – as its new Managing Director of Market Opportunities and Innovation in North America.
The latest GreenBook Research Industry Trends (GRIT) Report cites GfK as one of the five most innovative consumer insights suppliers.
According to new GfK research, subscribers to Netflix, Amazon Prime, and Hulu – the “Big Three” of streaming services – are already paying at or close to the maximum monthly fees they feel these services are worth. As costs for original productions and exclusive content continue to rise, commercial-free streaming brands like Netflix and Amazon may need to consider advertising as an alternative for achieving revenue and profit growth without an increase in current subscription fees. (Hulu is already ad supported.)
Download an infographic with more data from this study.
The study, Comparing Streaming Services 2016, suggests that $10 to $11 is the most that subscribers would be willing to pay each month, on average, for Netflix or Amazon Prime. This compares to the current subscription prices of $9.99 per month for standard Netflix service and $10.99 for Amazon Prime’s month-by-month subscription plan. While the research suggests that subscribers to Netflix might be slightly more price tolerant – willing to pay over $10 per month – none of the services has much wiggle room when it comes to fee increases.
The study also shows that original and/or exclusive content (“not available on any other service”) only ranks 9th among the top reasons that people subscribe to streaming services, cited by (47%) of major streaming service users. Access to content not received via regular TV services is the #12 reason, selected by 38% of respondents.
Netflix and Amazon Prime did see “original series/movies” grow significantly as a reason for using the services – although this is still not a major driver. The proportion of Netflix users citing this as a reason jumped from 3% to 12% between 2014 and 2016, and for Amazon the percentage doubled, from 4% to 9%.
Not surprisingly, the most important attribute in choosing a streaming service among streaming users is cost, cited by 75%. “Availability of specific programs” came in 2nd at 69%; and “availability of new movies” was 3rd, at 68%. All three of the major subscription streaming services were seen as underperforming on these top three attributes.
“With all three major SVOD firms raising their commitments to original and exclusive programming, the investment required for these flagship shows may need to be offset by new revenue streams in order to meet investor expectations,” said David Tice, SVP of GfK’s Media and Entertainment team. “Hulu and other ad-supported services have offered ‘ad-free’ subscriptions as a premium option; conversely, Netflix and Amazon Prime may need to introduce ‘ad-inclusive’ subscriptions to hold the line on monthly subscription costs for their price-sensitive customer segments.”
The new study, part of GfK’s The Home Technology Monitor™ report series, was conducted among 2,311 US consumers ages 13-64, including 1,007 regular users of a major streaming service (Netflix, Hulu, Amazon, YouTube, or TV Everywhere). Other topics covered in the report include:
• Usage and awareness of a number of SVOD and free streaming services
• Importance of a number of attributes to choosing a streaming service
• Deep dives on specific streaming services:
• Performance vs. the importance attributes; most important reason for use
• Each service’s place in hierarchy of viewing choice
• If non-users of each service ever had that service, ever stopped using that service; and why
Gregg Lindner, a market research industry veteran with strong experience in leading large syndicated media research organizations while focusing on innovation and quality metrics, has become the new Managing Director of GfK MRI.
According to a recent online survey by GfK, more than half (56%) of over 27,000 people surveyed in 22 countries have at least one pet. Canadians surpass the global average, with 61% of the population owning a pet. The research shows Canadians also prefer felines to “man’s best friend”; 35% of Canadians have a cat (compared to just 23% internationally), while 33% own dogs (the same as the global average).
New GfK research covering 22 countries has placed the US in 5th place for pet ownership, and in 3rd when it comes to owning cats. Almost three-quarters (70%) of US consumers have at least one pet, with 50% owning dogs and 39% cats.
Sales of smartphones have increased once again in North America (Canada, US, Mexico) following a dip in Q4 of 2015. Over 45 million smartphone units were sold in the first quarter of 2016 – a 4% increase year-over-year. This rise in demand was aided by aggressive operator marketing and sales efforts.
Global demand for smartphones in 1Q 2016 remained positive, standing at six percent year-on-year. This was helped by continued low-end segment growth in the majority of emerging regions, despite weak economies across the globe. Only China experienced strong growth (up 19 percent year-on-year), driven by increased operator subsidies aimed at spurring 4G adoption.
According to the GfK Connected Consumer Index for 2016, North America (encompassing Canada, US and Mexico) is second only to Hong Kong when it comes to the “connectedness” of its consumers.