Over 50% of consumers will go OTT this Christmas
27% are new Christmas OTT subscribers
Almost half of OTT subscribers plan to cancel within 6 months
LONDONG, ENGLAND -12/8/2015 (PRESS RELEASE JET) -- Over-the-top (OTT) TV will be a big hit for consumers this Christmas, with 52% of viewers around the world planning to use an online TV service during the festive season. This is according to a new Research Now study, commissioned by Paywizard, the expert in subscriber management for pay-TV. But, although a hit at Christmas, operators like Amazon Prime, Hulu and Netflix will lose many of their festive gains, with 45% of subscribers planning to cancel their subscriptions immediately or within six months.
The study, carried out in Australia, Brazil, Germany, Singapore, the UK and US, found that around 25% of consumers already use an OTT service, and a further 27% are planning to go OTT this Christmas, taking advantage of free trials and special “Black Friday” offers. However, perceived poor value-for-money and a lack of sustainable content choices mean that 15% of OTT subscribers plan to cancel their services in January, with a further 30% churning in the next six months.
“While OTT is disrupting the entertainment market, it’s pretty clear there is much to do to keep customers subscribed for a sustained period of time,” said Bhavesh Vaghela, Chief Marketing Officer at Paywizard. “This global survey shows that key demographic groups like the over 55s are not being catered for, while the core 24-35 working adults are running out of relevant content that is of interest to them. If OTT providers are to succeed in a highly competitive environment, it’s essential they provide a more personalised service based on a full understanding of the customer behaviours and viewing habits.”
Some of the key global findings from the research show:
Over 50% of consumers will go OTT this Christmas
27% are new Christmas OTT subscribers
Almost half of OTT subscribers plan to cancel within 6 months
The full Paywizard study, entitled ‘OTT isn’t just for Christmas’, is available to download [here].
About Paywizard
Pay-TV operators around the world are growing their traditional and multiscreen TV businesses by partnering with Paywizard. Our easy to deploy SaaS platform combines with our expert services to increase subscriber acquisition, retention, up-sell and cross-sell.
Paywizard builds your pay-TV revenues so you can achieve profitable growth. With our marketing suite you can quickly launch targeted campaigns to attract new subscribers, increase customer lifetime value and ARPU while decreasing churn.
We also deliver flexible support packages to meet your needs and guide you through the challenges of multiscreen monetisation. From simple advice to complete design and deployment, we deliver revenue-boosting techniques to continuously improve your service. Our expert services team can even manage and monitor your system for you.
Paywizard is at the heart of the pay-TV market. For 17 years we’ve driven the revolution in television - from free to pay, broadcast to IP and from single device to multiscreen. We know the TV market, see the challenges our clients face and understand how to drive revenue opportunities in a multiscreen world. For leading TV service providers such as BT Sport, NBCUniversal, Setanta Sports and NHK Cosmomedia Europe, Paywizard is putting the profit into pay-TV.
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Company Name: Paywizard
Name: Sophie Kay
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Website: http://www.paywizard.com