The demand for over-the-top (OTT) media services exploded when the global coronavirus pandemic forced millions of people to refrain from social gatherings and stringent lockdown measures heavily regulated their outdoor activities. The mass stay-at-home mandate saw an increase in the churn rate of US OTT services which hiked up to 41% in the first quarter of 2020 (during the peak of the pandemic), a 35% increase from last year, according to analyst firm Parks Associates.
“With movie theaters closed and cinematic productions and live events canceled or postponed, services are lacking some high-dollar content at the same time overall video consumption is accelerating,” Steve Nason, Research Director, Parks Associates remarked.
From the article "Streaming service bundles are a new way to attract subscribers" by Jia Jen Low.
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Data is really the new area of competition. If the pay-TV providers are looking at competition long-term in the future, that's the main concern. - BRETT SAPPINGTON, DIRECTOR OF RESEARCH AT PARKS ASSOC...
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