The future represents a 100% increase since 2013, according to Parks. Its TV Services: Changing the Channel Package report shows that only one-third of pay TV subscribers are very satisfied with their pay TV service, a drop from 57% who indicated very high satisfaction levels in 2013.
The research group’s 360 View Update: Pay TV and the Reality8 of Cord Cutting report meanwhile shows that 5% of US broadband households have never subscribed to a pay TV service, with adoption declines most notable among younger heads of household.
Over 63 million US broadband households subscribe to an OTT video service, and 36% of US broadband households have at least one streaming media player, according to Parks Associates.
“High satisfaction with pay TV has dropped across all providers. Telco services have seen the highest drop in highly satisfied customers compared to cable and satellite providers. The plummeting satisfaction levels ultimately affect service/channel package upgrades, cord cutting, engagement, and perception of operator-driven service changes (e.g., dropped or added channels,” said Brett Sappington, senior director of research, Parks Associates.
“The pay TV industry continues to experience worldwide growth, but the North American market is experiencing a decline in penetration. A combination of factors, including high monthly fees and a wide selection of OTT services, are pushing consumers away from traditional pay TV. Operators are now adjusting their strategies to address this new environment, including partnering with OTT video services or launching their own independent OTT services. Our research also shows that promotional options, including free or subsidized CPE, could entice potential Cord Cutters or Cord Shavers to keep their services.”
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