Consumers face an ever-growing complexity of video service options when it comes to satisfying their video needs. They seek not more services and options – in fact, churn continues across pay TV services and is growing for many SVODs – but instead a centralized experience that can simplify, optimize, and personalize their viewing experience. CTAM and Magid Research conducted a qualitative and quantitative study which provides the playbook to effectively develop such a centralized experience.
Ten Key Findings
- Consumer choice and challenge: We’ve created a (bundling) Frankenstein, and consumers currently cobble together the ideal entertainment package
- Consumers are demanding innovation: Rooted in trust and convenience, not nickel and diming
- At the heart of the innovation is the ISP – the dark horse capable of powering a singular connected experience
- The connected central hub represents an opportunity to own the customer relationship with video….
- …And beyond into many spaces Pay TV companies have never entered before
- Bundling is critical to driving satisfaction which is strongly connected to churn
- Singularity of content, billing, search and discovery = simplifying + amplifying the customer experience
- What about loyalty and rewards? It is important to find ways to reset with core customers while driving new acquisitions and reasons to engage again or for the first time
- Search and discovery algorithms should be prioritized, and social and community tools can provide further value and distinction
- Improving the ad experience is long overdue
- 77% of consumers are interested in a central hub
- 84% of consumers cite ease of content discovery as important for choosing to subscribe to a video/service provider
- The top 3 most important considerations in a bundle after mobile service include retail subscriptions (63%), audio service (60%), and gaming service (47%)
- 77% of total consumers are interested in a loyalty program
CTAM & Magid Research Qualitative and Quantitative Study, Spring 2024
View the full study results
Read the Whitepaper executive summary
