OTT Service Churn in 2019 Reached 35%, Up from 28% in 2018
Addison, Tex., March 10, 2020-- International research firm Parks Associates finds the churn rate among all OTT services was 35% in 2019, an increase of 25% from 2018. The firm will examine strategies for OTT services to counter churn and attract new viewers during the complimentary webcast “Driving Engagement and Reducing Churn in OTT,” cohosted with Swrve on Tuesday, March 17, 1 p.m. CT.
Executives from Cinedigm, Swrve, and Parks Associates will present industry insights and share analysis on strategies service providers can use, including incentives and strategic partnerships, to drive viewer engagement and grow their brands.
Swrve is an enterprise customer engagement platform that helps leading brands scale personalized interactions over millions of customers in real time. Topics addressed during the webcast:
- Key factors and trends driving OTT service engagement and customer churn
- Profiles of successful OTT providers
- Best practices of customer engagement strategies
Bob Strohmeyer, SVP of Global Customer Success, Swrve, and Alexandra Viglione, Product Marketing Director, Cinedigm, will participate in the webcast to address key market factors and trends driving OTT services, strategies to increase engagement, and best practices to measure value on new initiatives.
“Anticipating and acting on consumers’ behaviors across channels empowers brands to have relevant engagement that can drive monetization and retention strategies,” Strohmeyer said. “We look forward to a discussion about proven best practices helping companies in this competitive market.”
Parks Associates’ consumer data notes churn among vMVPDs (virtual multichannel video programming distributors or online pay-TV providers) was 81% in 2019. However, over two-thirds of vMVPD subscribers would find it difficult to give up at least one of their current subscriptions, so providers that offer the right mix of content, personalization, and ease of use can secure very loyal subscribers.
“Overcoming high churn and driving engagement are notable challenges for video service providers, especially as the market becomes more saturated and penetration rates slow,” said Steve Nason, Research Director, Parks Associates. “OTT services are offering free trials and promotional offers to drive initial service uptake, but these tactics are also leading to sky-high churn rates. To secure long-term subscriber fidelity, providers need to offer more, including original content and a personalized user experience.”
To register for the webcast, visit http://www.parksassociates.com/swrve-mar2020. For more information on the webcast and Swrve, go to https://blog.swrve.com/webinar-parks-associates-march-2020.
