Streaming Services Turn to Student Discount
Explore the new strategy that Max, Hulu, Peacock and others are implementing to engage the younger audiences.In the United States, Max has introduced a new offer for individuals over 18 with college or university accreditation. This attractive promotion includes a 50% discount on the Max plan with ads: subscribers would pay only $4.99 per month for 12 months. Max offers students access to a wide range of original content, popular titles, and sports broadcasts at no additional cost. This content perfectly aligns with the preferences of young people in the region, where 71% prefer to watch series and 69% enjoy movies. Additionally, 27% enjoy sports events, allowing them to take advantage of Max’s NBA, NHL, and MLB broadcasts. In addition, 66% of young people prefer comedies, like the popular series “Friends,” while others lean towards adventures, action, and drama, with original platform content such as “House of the Dragon,” “Euphoria,” and “The Last of Us.” With this offer, Max meets the diverse entertainment needs of students.
In the United States, Hulu and Peacock offer their ad-supported plans to students for just $1.99 per month, representing a 75% savings compared to the regular monthly ad-supported plan. Paramount+, meanwhile, offers a 25% discount for students.
Other platforms around the world that offer student plans include Prime Video and Mubi, with approximately 50% savings. In addition, YouTube Premium along with the NBA League Pass offer more than 40% off in kind of plan. Regarding Apple TV+, when subscribing to the Apple Music student plan, it offers free access to the platform, which also represents a savings of over 40%.
Although offering student discounts is becoming a common practice among platforms worldwide, only a few actually implement it. Max’s new offer could set a precedent for competitors to adopt similar strategies. Offering discounts to students brings several benefits. Firstly, it attracts a valuable segment of users and builds early brand loyalty, ensuring a long-term subscriber base. Additionally, it allows platforms to understand the habits of a young, tech-savvy demographic. That information can be used to enhance and personalize content offerings. Lastly, students can become promoters of the platform on social media, attracting more subscribers potentially.
In addition, other populations that often benefit from such offers include retirees, military personnel, and those qualifying for government assistance. These strategies help promote digital inclusion and access to entertainment and education for groups that may face economic limitations.
Sources
BB Media | Multiscreens+ Price, Plans & Bundles | 2Q 2024
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