Over half of credential sharers say they would be willing to pay for the video streaming service if their free access to it no longer worked. In this US, this is costing service providers an estimated $6.2B per year.
Despite this, many providers are failing to convert these users into customers. One of the biggest worries for marketers is negatively affecting the experience of paying users.
This guide includes findings from a recent survey on the motivations behind password sharing, the cost of credential sharing to your business, and the actions you can take to stop unwanted sharing while continuing to enhance user experience.
The Threat of Credential Sharing & Theft
Credential sharing is a common consumer behavior and its impact on streaming video providers is significant. A recent Cartesian survey of streaming video service users found that 22% of US residents admit to using credentials obtained from someone outside their household to access video content without paying for it. The problem is even greater among younger generations, where 42% of 18-24 year-olds report using shared credentials to watch content for free.
These numbers are daunting, but there’s a potential upside – streaming video providers have as many as 46 million engaged viewers who are not paying for their service today that could be targeted. While this sounds like a challenging sales proposition, consumer sentiment is encouraging: 56% of US residents who reported using shared credentials also indicated they would be willing to pay if their free access no longer worked. Capturing this opportunity will require providers to navigate a tricky balance. How do you prevent credential sharing and theft outside the household, without negatively affecting the experience for paying users?
We surveyed US residents aged 18-60 to understand the scale of password sharing behavior amongst viewers, why credential sharing happens, and what actions can be taken to prevent it.
In this report, find out:
- How many people use shared credentials, and on which platforms?
- Who is using shared credentials?
- Where do shared credentials come from?
- Why do people believe that credential sharing is OK?
- Would people pay if shared credentials stopped working?
- How much does credential sharing cost providers, and how can they prevent it?
This research and analysis will help service providers understand the impact of credential sharing on their business and understand ways they can respond to it effectively. Download your free copy of the guide today!