TiVo Corporation has released findings from its 2017 survey of pay-TV and over-the-top (OTT) service subscribers across the U.S., Europe and Latin America.
The multi-country study, which revealed that respondents watch an astonishing global average of 4.4 hours of video content each day, is part of TiVo’s ongoing exploration into viewer engagement with the content, services and devices that shape the evolving consumer entertainment experience.
Most notably, the survey revealed that one in four consumers who have had pay-TV services for less than 12 months are “extremely likely” to cord cut or cord shave in the next six months.
An estimated 55% of pay-TV subscribers in the U.S. and 42% in Western Europe have had service with their current provider for four years or more, compared to 32% in Latin America.
In Western Europe, just 43% of those who have had their pay-TV service for four years or more subscribe to an OTT service, compared to 49% in the U.S. and 67% in Latin America
“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,” said Paul Stathacopoulos, vice president of Strategy and Research, TiVo. “Service providers must focus on delivering entertainment experiences that are compelling to a highly segmented viewer composition. By staying ahead of the curve through technology innovation, providers can retain longer-term subscribers, while attracting young consumers by adapting the TV experience to include a wide array of internet video services and viewing devices.”
The study found that more than 38% of viewers shut down and turn off their devices altogether when they can’t find something to watch. A striking 50% “strongly agree” that, for the amount they pay for their TV service, it should be easier to find what they want to watch, while 26% say they would pay more each month for a service that simplified video discovery across all the services they subscribe to.
On average, 60% of global respondents who own a voice remote use it frequently or every day. 64% of those who own voice controlled home assistants use them frequently or every day. 59% of those with access to a voice enabled video app use it frequently or every day. 61% of those who own voice controlled wearable devices use the technology frequently or every day
The research findings were the result of an online survey, conducted by TiVo Corporation, of 8,500 pay-TV and OTT subscribers across seven countries worldwide with 2,500 interviews completed.