TiVo’s Latest Consumer Trends Study Suggests Service Providers Need
to Appeal to a Highly Segmented Viewer Composition Amidst Fierce
Competitive Pressures
AMSTERDAM--(BUSINESS WIRE)--
(IBC 2017) – TiVo
Corporation (NASDAQ: TIVO), the global leader in entertainment
technology and audience insights, today 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, this year’s survey revealed that:
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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
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Fifty-five percent of pay-TV subscribers in the U.S. and 42
percent in Western Europe have had service with their current
provider for four years or more, compared to 32 percent in
Latin America
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In the U.S. and Western Europe, tenured pay-TV subscribers are much
more likely to be Baby Boomers instead of Millennials, which is a
stark contrast to Latin America where the distribution of age groups
is fairly even. Among those in the U.S. who have been with their
provider for four years or more, 51 percent are Boomers while
only 11 percent are Millennials.
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In Western Europe, just 43 percent of those who have had their
pay-TV service for four years or more subscribe to an OTT service,
compared to 49 percent in the U.S. and 67 percent 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.”
Anyone Watching?
TiVo found that more than 38 percent of viewers shut down and
turn off their devices altogether when they can’t find something to
watch. A striking 50 percent “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 percent say they would pay more each
month for a service that simplified video discovery across all the
services they subscribe to.
Stathacopoulos continued, “As video entertainment options expand,
consumers around the world continue to consume a vast amount of content
across services and devices. But without a shift or focus on innovating
the way consumers connect to entertainment, hyper-fragmentation will
continue to be a barrier, driving consumer frustration and impacting how
the industry captures the entertainment wallet share.”
Talk to Me
An example of new technology that is winning over consumers is advanced
voice technology. While we are still in the early days for voice and
devices that support voice, those who use it appear to be using it often:
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On average, 60 percent of global respondents who own a voice
remote use it frequently or every day
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64 percent of those who own voice controlled home assistants
use them frequently or every day
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59 percent of those with access to a voice enabled video app
use it frequently or every day
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61 percent of those who own voice controlled wearable devices
use the technology frequently or every day
“When it comes to voice technology, we see broad appeal across all
generations and this year’s survey findings validate that claim. We
believe that voice will become the norm especially as voice assistants
continue to enter homes and voice search technologies become more
accurate and intuitive,” concluded Stathacopoulos.
Methodology
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 in the U.S., and
1,000 interviews completed each in the U.K., France, Germany, Brazil,
Mexico, and Colombia.
To download the infographic and the survey data, please click here.
About TiVo
TiVo Corporation (NASDAQ: TIVO) is a global leader in entertainment
technology and audience insights. From the interactive program guide to
the DVR, TiVo delivers innovative products and licensable technologies
that revolutionize how people find content across a changing media
landscape. TiVo enables the world’s leading media and entertainment
providers to deliver the ultimate entertainment experience. Explore the
next generation of entertainment at tivo.com,
forward.tivo.com
or follow us on Twitter @tivo
or @tivoforbusiness.
Caution Concerning Forward-Looking Statements
This press release contains forward-looking statements. Readers are
cautioned that such forward-looking statements involve risks and
uncertainties that could cause actual events or our actual results to
differ materially from those expressed in any such forward-looking
statements. Readers are directed to TiVo’s periodic and other reports
filed with the Securities and Exchange Commission (SEC) for a
description of such risks and uncertainties. TiVo undertakes no
obligation to update any forward-looking statements.
TiVo and the TiVo logo are registered trademarks of TiVo Corporation
and its subsidiaries worldwide.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170913005227/en/
TiVo
Jennifer Miu, +1-408-764-5411
[email protected]
Source: TiVo Corporation