Let’s start with the stalling student uptake in streaming
It seems to have reached a saturation point that, at first glance, doesn’t make much sense. The market leaders, Netflix and Amazon Prime, have risen in student subscriptions each year without fail. But last year, they both dropped. Why?
Yes, 2022 was the first year of ‘normality’ post-COVID, and also the year where the cost-of-living crisis started to tighten its grip. Students were able to indulge in other activities, while having less disposable income to spend on subscriptions. Price increases for both Netflix and Prime also played a part.
But there’s another reason that has nothing to do with socioeconomic issues. UGC, or user generated content, may also be responsible for widespread changing media preferences in Gen Z. UGC is the collective term for any content created by people, rather than brands or businesses. The two market leaders in UGC video (YouTube and TikTok) both rose in 2022...