Over the past decade, internet access has grown significantly. In fact, studies show that nearly 70% of the world’s population is connected to the web; and the figure keeps increasing, potentially surpassing the 80% mark soon. The increase in internet users has increased the popularity and extensive use of streaming services like Netflix, Hulu TV, Paramount, Disney +, and YouTube TV. Things aren’t going well with cable service providers as they are losing millions of subscribers because of their high pricing, and the trend of ‘cutting the cord’ is gaining immense response worldwide. Cable service providers have come up with the approach of bundling their services and streaming platforms to retain their existence in the competitive marketplace. The article highlights some of the ways internet users can use these bundles to save on subscriptions!
Understanding the Bundling Services
It is a marketing strategy combining cable and streaming service providers to entertain a lower price than if they both operated individually. The bundle service and pricing technique is popular as it offers more value for the price, boosts the subscription rates, and helps establish solid customer loyalty. Bundling services and pricing are practiced in several sectors.
The strategy entices customers to invest in additional channels and services that streaming and cable providers know are valuable. The leading streaming platforms have recently been implementing bundle pricing and service strategies with cable providers to lure more customers into subscribing to the service. Bundling streaming and cable services helps customers enjoy more local channels alongside the OTT content at cost-effective pricing.
Leading Brands are Incorporating Streaming Bundles
Streaming bundles are still in their initial stages, but leading platforms have taken steps towards practicing them. The best example is Disney taking over Hulu TV after purchasing the remaining shares of Comcast and launching the bundle with Hulu TV, ESPN +, and Disney +. Reports surfaced that other big brands plan to launch their cable and streaming bundles soon. In addition, there are speculations that a popular telecom provider is contemplating offering customers a bundle of YouTube TV and other leading streaming services.
Enjoying More Channels
Everybody wants to experience more by paying minimally, and it is where cable and streaming bundling steal the spotlight. Most bundle service providers upgrade their subscriber’s plan or package when they choose a bundle service. For example, subscribers enjoy more channels at lower price rates. The bundling service providers follow the approach and appreciate the customers for selecting the provider. As cable subscriptions have dropped remarkably over the years, bundling with streaming packages is the best strategy to retain subscribers and continue with the business.
Improves the Bill Payment Process and Saves Money
Sorting monthly bills is daunting when people are busy with personal responsibilities and official work. People sometimes forget to pay bills for streaming and cable services without effective bill management. In addition, they lose track of all the subscriptions and pile up with high bills every time.
People can sort out such nuisances by bundling YouTube TV or another streaming platform with cable services and receive a single, convenient bill every month. Bundling simplifies monthly budgeting and enables users to pay their bills conveniently. Furthermore, bundling cable packages and streaming plans is the best solution to save money. It is one of the prime reasons why homeowners prefer the option. Investing in cable packages and streaming platforms independently raises the monthly bills and messes up with the budgeting.
The Future of the Bundling Services
Experts believe streaming bundles are a big deal for the future media industry. Standalone streaming services face several challenges, and traditional cable services lose their subscribers, the idea of bundling is more appealing to cable and streaming service providers. The idea or motive behind the cable and streaming bundles is to attract more subscribers and earn money by selling bundled services at cost-effective rates. Maximizing the advantages of streaming bundles demands balancing subscriber growth and pricing.
Conclusion
The market trend shows that more bundle offerings and partnerships are on the horizon. Streaming bundles are revolutionizing the media industry with more channels and services at discount rates. The future of streaming bundles is bright as it appeals to traditional cable providers and streaming platforms like YouTube.