Streaming services are grappling with the persistent issue of customer churn, but a novel approach involving broadband internet plans may hold the key to mitigating this problem. MyBundle's recent research highlights the effectiveness of bundling $20 in monthly streaming credits with Norvado's 1 Gig fiber internet plan, which resulted in a streaming service churn rate of just 4.3% after 12 months. This figure stands in stark contrast to the industry average of 8.6% reported by Antenna, underscoring the potential of this strategy to transform the streaming landscape.
Jason Cohen, MyBundle's Co-Founder and CEO, emphasized the significance of these findings, stating, 'The concept of bundling content and connectivity is nothing new to the broader business of media and entertainment, however with this yearlong MyBundle research we now have strong empirical data that bundling streaming purchases with broadband works.' Cohen further noted that while acquiring new customers remains a priority for streaming services, reducing churn has emerged as a close second. The potential for a 50% reduction in monthly churn rates presents a compelling case for the adoption of such bundling strategies.
MyBundle's Streaming Choice program, which facilitates these bundling arrangements, is already being implemented by 21 of the company's nearly 230 broadband partners. The program's flexibility allows partners to offer streaming credits, pre-selected services, or customer-chosen services alongside their internet plans for a fixed period. By streamlining the streaming ecosystem and enhancing customer satisfaction, MyBundle aims to benefit consumers, broadband providers, and streaming services alike. For more information on MyBundle's initiatives, visit https://www.mybundle.tv.
