A global survey by TiVo has found viewers are watching an average of 4.4 hours of video a day, but one in four claim they are “extremely likely” to reduce the amount of content they subscribe to.
The survey, which spoke to 8,000 consumers in the United States, UK, France, Germany, Brazil, Mexico, and Colombia, has been released in the run in to IBC (Amsterdam, 14-19 September.
Fifty-five per cent of pay-TV subscribers in the United States and 42 per cent in Western Europe have had service with their current provider for four years or more, compared to 32 percent in Latin America.
There were significant differences in the longevity of subscriptions. In the United States and Western Europe, long-standing pay-TV subscribers are much more likely to be Baby Boomers rather than Millennials. In Western Europe, just 43 per cent of those who have had their pay-TV service for four years or more subscribe to an OTT service, compared to 49 percent in the United States and 67 per cent in Latin America.
“As new, shiny OTT services and streaming devices continue to proliferate in the market and compete for consumer attention, there is considerable risk that younger generations may come to view pay-TV as an antiquated service that doesn’t play a role in their daily lives,” said Paul Stathacopoulos, vice president of Strategy and Research, TiVo. “Service providers must focus on delivering entertainment experiences that are compelling to a highly segmented viewer composition. By staying ahead of the curve through technology innovation, providers can retain longer-term subscribers, while attracting young consumers by adapting the TV experience to include a wide array of internet video services and viewing devices.”
TiVo found that more than 38 per cent of viewers actually do shut down and turn off their devices altogether when they can’t find something to watch. A striking 50 per cent “strongly agree” that, for the amount they pay for their TV service, it should be easier to find what they want to watch, while 26 per cent say they would pay more each month for a service that simplified video discovery across all the services they subscribe to.
TiVo has been working with voice search technology and on average, 60 per cent of global respondents who own a voice remote use it frequently or every day; 64 percent of those who own voice controlled home assistants use them frequently or every day and 61 per cent of those who own voice controlled wearable devices use the technology frequently or every day.
