New research from Parks Associates shows that 60% of Pay TV subscribers in the U.S. are interested in streaming movies and TV shows from an online video service as part of their Pay TV subscription. This comes at a time when the number of Pay TV consumers who receive online video services has jumped nearly 50% in a year.
Video streaming is the most popular value-added service among Pay TV households, but there is growing interest for other advanced features, as well. 43% of Pay TV households are interested in having video calls on their TV. 40% are interested in controlling smart home devices and security systems from the TV. And 34% are interested in playing video games on the TV through a cloud gaming service. The insights are contained in the study, ‘Pay TV: Perception, Adoption, and Retention’.
According to Parks Associates, the average number of OTT services among U.S. households that have any OTT service is 3.8, while households with Pay TV services plus at least one OTT service subscribe to 4.2 OTT services, on average.
Kristen Hanich, Senior Analyst at Parks Associates, has this general advice for Pay TV operators that need to stem subscriber losses. “They must keep offering their most valuable content, which includes live sporting and cultural events. Additionally, they must offer access to streaming, target new services to their interested customers, and perhaps be willing to take a hit on pricing until this chaotic market stabilises.”