Pay-TV services are showing their age as subscribership continues to fall, leading to a projected 76.7 million subscriber decrease by 2024, according to a report by Parks Associates. This drop would represent a 27% decline since the industry’s 2014 peak.
“There has been substantial innovation over the years, but streaming’s debut changed the trajectory of the modern video service industry,” said Parks Associates. “The evolution of streaming video has given consumers immense choice in how, when, and what they watch.” Erickson goes on to state that a lack of long-term contracts in the streaming industry allows viewers to easily switch between offerings, using free trials and reduced subscription prices to their advantage as they learn which streamers best suit their tastes.
From the article, "Report: Pay-TV Subscriptions to Drop 27% by 2024; Streaming Apps to Pick Up the Slack" by Joshua Thiede.
According to researchers at Harvard University, Americans spent nearly $420 billion on home improvements and repairs in 2020, as households modified living spaces for work, school, and leisure in resp...
According to Parks Associates, it only gets worse from here. In its 2022 “OTT Streaming Trends to Watch” white paper, their data shows that the average churn rate was 40% in 2020. Right now, the avera...
One of the hurdles to smart home adoption has been the complexity. What happens now is someone orders a bunch of devices or buys some things in a big box store, and they plug them all in at home, and...
Smart TVs are gradually becoming more common than separate streaming devices. As of the third quarter last year, 56% of households with broadband owned smart TVs while 43% owned streaming devices, acc...
