Head of Marketing | Brand Builder | Consumer Storyteller | Digital Creative Strategy | Collaborative Leader | CMO, Fantom Foundation | ex TikTok, Apple, Warner Bros, Fox, Sony | MBA
Rumble With the Bundle! With its new MyPlan program, Verizon seems to understand better than most that we are in the relationship economy and not the attention economy, putting some distance between it and its rivals. (via Variety+: https://lnkd.in/gpgbytAJ) SVOD churn has been increasing (along with price….just saying) and audience attention has forever fragmented across gaming, short form video, music, podcasts, reading, live streaming, etc. The MyPlan program "provides mix-and-match flexibility for home internet, live TV, entertainment and connected home offerings with pricing guaranteed for up to four years and “no hidden fees” or equipment charges", you know like audiences are asking for. Seems pretty on target considering data coming out of Hub Research’s biannual study on streaming (https://lnkd.in/ghSirGzA): 📌 59% of users want a “service to manage and pay for all of my subscriptions in one place” 📌📌 Top subscriptions within that bundle go beyond streaming to reflect the broadening of those use cases (and fragmentation): internet access (71%), Netflix (65%), mobile phone plan (52%), streaming audio (43%), and ‘network bundle w live tv’ (40%). As expected, among men 18-24, choose a gaming subscription over broadcast vMVPD at 44%. Verizon's smart to lean into audience-centrism and recognize their customer relationships as a critical differentiator in a crowded, undifferentiated sector. After all, myPlan doesn’t need to exist - audiences have been cobbling together subscriptions all on their own for some time. But leaning into the RELATIONSHIP ECONOMY > making more noise in the attention economy will pay off.
