The streaming landscape
The current streaming landscape is giving consumers flexibility in how they acquire their entertainment content. Digital video and streaming services continues to be the fastest growing entertainment source in the U.S.
This has allowed people to explore various interests out across different services more than they have in the past. They want to make sure they have access to as wide of a library of entertainment as possible that satisfies their multitude of interests.
People using 3 - 4 streaming services rose from 29 to 40 percent in 2020 and people using 5 or more services rose from 9 to 19 percent.
There are certain requirements people look for in streaming services but with two main factors standing out
With people using more streaming services, this had led to a very crowded category
It is becoming highly competitive and saturated category with hundreds of services for viewers to choose from with a few leading the category.
Of all major streaming services, Peacock represents the biggest unknown when it comes to their subscription model
Even though it is the newest player on the scene its been gaining traction and had a great debut after its soft launch
At the launch of Peacock in July, 2020 they had 10 million subscribers and are currently up to 26 million and growing
But it isn’t until 2021 where Peacock “arguably really be hitting its stride” and people have a lot to look forward to including live sports, news, and reboots of the classics
Unlike their competitors Peacock isn't emphasizing new content or shows and are focusing on old classic, comfort content
Much of Peacock's library treats its content the same way it did when it was NBC over-the-air broadcast for decades:
free with commercials
Most of the older content is available on the free tier option
Peacock should be understood as the vehicle for NBC’s digital transition rather than as a fully-fledged competitor to Netflix and others
With their “free” price tag and keeping the paid version as low as possible this is what is driving people to try the new service out
Based on Peacock's streaming model we want to target two groups of viewers
Primary Target: Binge Watchers + Nostalgists
These are the young adults in their 20s and 30s who are either discovering or rediscovering classics that their parents loved or that they were too young to appreciate when they were syndicated - but started watching them when they came on streaming services. They have a sense for nostalgia even if they weren’t born when the shows were released. They want to connect with generations that came before them.
Want to be an expert within culture this drives them to not only keep up with current culture but understand past culture
Want to create genuine relationships with people their age and older and find entertainment to be a vessel for that
All of their favorite shows are leaving their favorite streaming platforms
Most live in cities far away from friends and family
Don’t like it when they aren’t able to talk about cultural moments with others
Secondary Target: Non-Cord Cutters
These are the Boomers and Gen Xers. They grew up with cable and still watch shows on live TV. They have their favorite shows but tend to lean towards shows that they grew up with or give them a sense of nostalgia. They typically have a schedule for the shows they watch and have a few shows that they stream but aren’t 100 percent comfortable cutting the cord.
Simplicity when it comes to watching their entertainment content
Sense of home, familiarity and stability.
Their kids, family and friends are cutting the cord and feel like they should should but are scared to do go completely online
There are too many streaming services becoming overwhelming and too much to sift through
Many of their favorite shows are moving from TV to online and streaming services
Home is where your shows are
Feels Like Home
Major streaming players like Netflix are hemorrhaging their most popular shows, including The Office, Parks & Recreation, and Brooklyn Nine-Nine. Why? Because they’re all NBC properties. We were happy to lend them out for a while, but now they’re coming home to NBC—to Peacock—where they belong. That means you belong here too.
Tap into nostalgia and the evergreen appeal of NBC’s properties
Take ownership of NBC properties (“we’re not stealing The Office from Netflix; it always belonged here”)
Make people feel like they belong on Peacock by appealing to their familiarity with some of Peacock’s programming. (“if you know, you know”)
OOH: Bus Shelters, Subways, Billboards
These ads will be placed in high traffic transit areas in cities like New York, Los Angeles, San Francisco, and Chicago. Since Peacock can be streamed from a laptop or phone, they can watch their favorite shows on their commute.
Innovation: Peacock x Peloton
Peacock will partner with Peloton to create video biking courses for famous NBC show locations, so you can ride through Scranton, “Pawnee”, or Queens. The Peloton software will also feature a Peacock extension to allow users to stream TV while they exercise.
Retail: Peacock x Publix
Peacock will partner with Publix’s product devs to brand some of their prepared foods (take-and-bake and ready-to-eat) as iconic foods from Peacock shows.
Social: Promotion Videos
Taking clips from popular and classic NBC shows showing what it’s like to feel at home. These will be in the form of paid ads and organic content featured on Peacock’s social channels like Instagram, Twitter, and Facebook.