Parks Associates' Consumer Study Video Services: Shifting Demand Reveals Strategies for Profitable Growth in Video Services Market
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Consumers cutting streaming services to save money
The top driver of service cancellations is the desire to save money – 29% of Internet households say they cancel a service to save money. Finishing a show is the next most popular reason.
"Consumer focus on price and content underscores the pivotal role of value in consumer decision-making," said
Rapid changes in viewer behaviors, coupled with the ongoing Writers Guild of America (WGA) strike, emphasize the content conundrum in today's video services market. A steady flow of scripted content is pivotal to viewer engagement, but it is costly and prone to disruption. Providers need to align content strategies with evolving viewer demands and greater emphasis on financial returns, which accounts for the recent rise of Free Ad-Supported TV (FAST) and Advertising-Based Video on Demand (AVOD) services. Disney recently announced increases for premium Disney+ and Hulu subscription services, while offering ad-supported service bundles at highly discounted levels.
"Video Services: Shifting Demand," research based on a survey of 10,000 US internet households, investigates the dynamics of traditional pay-TV, streaming TV, and OTT services, dissecting subscription, ad-based, and transactional business models. This research reveals data about what consumers value most in their entertainment services and what is effective in keeping them. By examining historical data on adoption, satisfaction, and churn rates for pay-TV and OTT services, the study uncovers valuable strategies to retain subscribers and enhance revenue streams.
Parks Associates will feature this research along with executive insight on industry trends the at the sixth annual Future of Video, hosted at the
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About Parks Associates
Parks Associates, a woman-founded and certified business, is an internationally recognized market research and consulting company specializing in emerging consumer technology products and services. Founded in 1986, Parks Associates provides business intelligence and research services through its proprietary methodologies developed over decades, including quarterly surveys of 10,000 internet households.
The company's expertise crosses many industries: home security and smart home, streaming video, broadband and pay-TV services, digital media and platforms, gaming, Wi-Fi and home networks, connected health, support, consumer electronics, home control systems, energy management, and tech solutions for the multi-dwelling (MDU), small-to-medium business (SMB), and commercial building markets.
Each year, Parks Associates brings thousands of leaders together for its webinars and annual events. The firm hosts the annual executive research and strategy conferences CONNECTIONS™, Connected Health Summit, Smart Energy Summit, Smart Spaces, and Future of Video. http://www.parksassociates.com
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SOURCE Parks Associates
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