Churn rate refers the percentage of users cancelling or disengaging with content or a platform, as you may know. It’s not only a gauge of customer satisfaction and an indicator of consumer loyalty, it’s one of seven key metrics that matter identified by a panel of experts at TiVo.
According to TiVo’s most recent Video Trends Report, the top reasons for cutting pay-TV services were:
• Cost (91.9 percent)
• Using alternate streaming services (23.3 percent)
• Shifting to rely on an antenna for basic TV channels (12.8 percent)
Additionally, broadband-only users reported canceling SVOD subscriptions due to cost, lack of engagement with programming offered and account-sharing.
Five percent of surveyed TiVo users indicted they removed or reduced a subscription service between March and April 2020.
Getting a handle on churn measurement and abatement is vital for long-term survival.
The best predictors of churn risk are viewership and engagement – elements including total viewing duration, time of day, day of week and interaction with search and recommendations functions. TiVo studies have shown viewers using personalized content discovery features churn three times less than those who find programming by traditional means; a major consideration at a time of immense consumer choice and providers increasingly focused on retaining – rather than simply gaining – subscribers.
To further explore churn rate and six other key metrics for maximizing the power of user analytics and data science, TiVo created Building a Data-Driven Streaming Service, a practical guide for consumer electronics, VOD/OTT and MVPD product teams.
© 2020 Xperi. All rights reserved. TiVo, the TiVo logo and the TiVo silhouette logo are registered trademarks of TiVo Brands.
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