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Cord cutting on the rise in the US: Parks Associates
MUMBAI: While consumers watch over 30 hours of video per week on average, the number of households planning to cancel their pay-TV service (potential cord-cutters) has also increased, reaching seven per cent of U.S. broadband households with pay-TV service.
This is the main finding by Parks Associates in its report ‘Under Attack: Assessing New Threats to Pay TV’.
Parks Associates director of research Brett Sappington said, “The pay-TV industry is experiencing a slow crisis in terms of paying customers. Content is key to attracting and retaining consumers, and consumers are now looking beyond pay TV for that content. The new deal between Apple and HBO to stream the HBO Now streaming service to Apple devices is just the latest example. At the same time, companies like Google and Amazon are getting into the content creation business, providing a new competitive threat to the traditional ecosystem.”
Parks Associates director of research Barbara Kraus said, “Consumers have extensive content choices, including live TV, VOD, and OTT streaming, and they are using multiple interfaces to access desired content. For consumers, the lines are blurring between CE makers, operators, and content providers, so they will make their decisions, first and foremost, based on who has the desired content and secondly on who provides the easiest method to find and consume that content.”