Globally, 25% of consumers are watching paid-OTT services like Netflix, with an additional 27% planning to subscribe in late 2015, according to new research.
The Paywizard-commissioned Research Now study claims that people aged over 45 are 2.4 times less likely to watch paid OTT than millennials.
However, the report, titled ‘The fight is on: Winning the pay-OTT battle’, also claims that 45% of new pay OTT subscribers will cancel within six months.
“Where pay-OTT provides the satisfaction of content on demand and fosters the notion of binge viewing, there is the risk of dissatisfaction if demand is not fulfilled. Investing in rich content, for example, could persuade 53% of consumers to stay with a service, or operators could address the fact that a quarter of subscribers cancel because ‘it’s too expensive’,” according to the study.
“With pay-OTT subscribers free from long binding contracts, operators now need to switch from yearly planning to more real-time analysis enabling them to react to trending events.”
The online survey was conducted in late 2015 and was completed by 5,960 consumers across Australia, Brazil, Germany, Singapore, the UK and US.
