Evergent provides tips on profitability gains

The insights are based on Evergent’s experience onboarding 800 million subscribers in 180 countries and point the way to simple, easy-to-fix changes that can make a significant difference in the drive to improve profitability.

Evergent has analysed the most common revenue-boosting changes typically achieved across its customer base to reveal the critical strategies streaming companies can deploy to improve profitability:

Fix the leaks: Streaming businesses can tackle churn before it even happens, addressing revenue losses that are a major barrier to profitability. Advanced analytics can predict multiple causes of subscriber departures and intervene with personalised retention strategies.

Identify the real growth sources: Streaming providers can dynamically fine-tune content offerings, pricing tiers, and promotions, using data-informed decisions to trial and double down on the products, business models and partnerships that are successful with different audiences.

Get close to subscribers: Providers can use technology to understand and engage with their customers on a much deeper level than ever before, using behavioural insights to create new, customer-centric subscription options including loyalty-based incentives and event-specific pricing.

Simplify global payments: Offering flexible payment options to properly cater to local payment preferences is crucial for reducing friction in the subscription process and minimising payment-related churn. The constant evolution in local consumer trends, global payment platforms, taxes and regulations means that managing payment systems is a significant operational burden far removed from a streaming provider’s core business.

Harness AI for subscriber engagement: AI is a game-changing tool in proactively predicting and combating churn. Streaming providers can tailor pricing and promotions, and recover avoidable collection failures.