Understanding Promotions As Acquisition Drivers

This week welcomed the latest Amazon Prime Day and, in recent years, it’s served as a major marketing moment in the video category with discounts to drive subscriber acquisition. Antenna has previously reported that some streamers have seen as many as 20% of their new customer sign-ups coming through price promotions similar to those offered during Prime Day. But with an increased focus on profitable growth, streaming services need a deeper understanding of the nuanced impact these marketing programs have on acquisition, loyalty, and customer lifetime value. So using Antenna’s new Acquisition Drivers product, we decided to take a look at how these Prime Day discounts have performed in bringing in new users. 

Based on 2022 data, Antenna measured 1.5M sign-ups across 10 services participating in the July 2022 Prime Day promotions. Of those, Paramount+ commanded the highest share at 28% of Prime Day sign-ups. Paramount Global (Paramount+, Showtime and BET+) combined to earn over 700k sign-ups and 47% share of Prime Day sign-ups across these 10 services.

Antenna’s Acquisition Drivers provides uniform tracking of promotion by cataloging all major price promotions and associated details across Premium SVOD services, and tracking the performance of each with the relevant variables a marketer may need to refine their own offer strategy, such as share of re-subscribers, conversion rate, and survival rate of sign-ups via promotion.

In addition to tracking promotions and performance, Antenna’s Acquisition Drivers provides rapid delivery that can be useful in determining crucial insights around strategic business moments—a recent example is our  first look at Netflix sign-ups following Netflix’s password sharing crackdown.

If you’d like to learn more about Antenna’s Acquisition Drivers, please reach out to hello@antenna.live.

For more detailed information on Antenna’s methodology and definitions of core metrics, please visit http://www.antenna.live/methodology.  

Brendan Brady is a Content Strategy Associate at Antenna, a measurement and analytics company providing insight into purchase behavior and subscription metrics across the new media landscape.