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Parks Associates: Roughly 40% of US Broadband Households Have Trialed At Least One OTT Video Service During the COVID-19 Crisis
- Friday, Dec. 4, 2020
Verizon Media, ThinkAnalytics, ContentWise, Vindicia, Salesforce Industries, and Viaccess-Orca to share strategies to improve OTT service retention at Future of Video
The third annual Future of Video: OTT, Pay TV, and Digital Media, hosted virtually by Parks Associates on December 14-16, features Verizon Media, ThinkAnalytics, ContentWise, Vindicia, Salesforce, and Viaccess-Orca in a special session examining strategies to leverage user data to improve service retention. Parks Associates research finds roughly 40% of US broadband households trialed at least one OTT service during the COVID-19 pandemic. These free trials are important drivers to paying subscriptions, and by leveraging data on viewer activities and preferences, providers can personalize their services to improve subscriber stickiness.
"The use of data, which moving forward will be better informed with the use of advancements such as machine learning and artificial intelligence, will guide an improved user experience and content offering," said Steve Nason, Research Director, Parks Associates.
At Future of Video, Parks Associates highlights in-depth consumer and industry research on OTT services, the value of content, technology innovations, and best strategies for building successful video services. Event sponsors include Salesforce, Comcast Technology Solutions, ContentWise, Verizon Media, You.i TV, Amdocs Media, Penthera, and Verimatrix.
The virtual session "Data and Decision Making in Video Services" on December 15 features visionary speaker Darren Lepke, Head of Video Product Management, Verizon Media, followed by an interactive discussion addressing the latest use cases and technologies that are helping services better acquire, engage, and retain customers.
Featured executive speakers for the interactive panel:
- Gabriel Berger, CEO, ThinkAnalytics
- Renato Bonomini, VP Global PreSales, ContentWise
- Michael Daley, Global VP Solution Evangelist, Vindicia, part of Amdocs Media
- Christopher Dean, VP & GM Media & Entertainment, Salesforce Industries
- Alain Nochimowski, Chief Technology Officer, Viaccess-Orca
"At Future of Video, we will examine customer acquisition and retention efforts as well as solutions that can improve business operations for companies delivering OTT video services," said Elizabeth Parks, President, Parks Associates.
Parks Associates data:
- 42% of US broadband households that subscribed to an OTT service during the COVID-19 crisis cite a free trial as a key driver for this new subscription.
- Average monthly spending on OTT video service subscriptions was $16 in Q1 2020.
- Two-thirds of US broadband households that canceled an online pay-TV service would consider re-activating it when live sports content become available.
About Future of Video
Future of Video: OTT, Pay TV, and Digital Media brings together senior leaders to share insights on new trends in the video and connected entertainment industries, with insights on consumer adoption, churn, and spending. The event provides insight into successful OTT strategy deployments, challenges for pay-TV providers, the role of connected CE in the growth of video viewing, new content formats, and the overall impact to the video market.
Future of Video addresses new strategies for cableco, OTT, and mobile service providers to provide high-quality customer service, retain subscribers and attract new customers, and design bundled options through new distribution strategies.
Future of Video takes place virtually on December 14-16, 2020. For more information, visit www.futureofvideo.us.