TiVo: Churn High Among Consumers Who Are New to Pay TV
In a multi-country consumer study, TiVo found that one in four respondents who have had pay TV services for less than 12 months are “extremely likely” to cut or shave the cord within the next six months.
That was a big takeaway from an online survey of 8,500 pay TV and OTT subs across seven countries (2,500 in the U.S., and 1,000 each in the U.K., Germany, France, Brazil, Mexico and Colombia).
TiVo found that 55% of pay TV subs in the U.S. and 42% in Western Europe have had service with their current provider for four years or more, compared with 32% in Latin America. In the U.S., 51% of that group are Boomers, and just 11% are Millennials.
“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,” Paul Stathacopoulos, vice president of Strategy and Research at TiVo, said in a statement. “Service providers must focus on delivering entertainment experiences that are compelling to a highly segmented viewer composition. “
The study also found that voice navigation is a hit with consumers, as 60% of those with a voice remote use it frequently or every day, and that 64% of those with a voice-controlled home assistant use it frequently or every day.
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