Last year's losses are 325,000 greater than the previous year's, with VMVPD services collectively losing 640,000 subscribers. The largest TV providers in the area consist of 95% of the market, now account for 81.3 million subscribers.
Churn rates for OTT and vMVPD services dropped as consumers shift to online video sources for their entertainment. The announcement serves as one of Parks Associate's topics for the fourth annual Future of Video: OTT, Pay TV, and Digital Media.
17% of vMVPD subscribers switched from traditional pay-TV within the last twelve months. vMVPD subscriber growth was waning, with some vMVPDs posting continued losses before it was affected by the Covid-19 pandemic.
With the figure equating to 8%, most cancellations resulted from sports programming cancellations. Churn rates have declined to 38% from 46% last year among OTT video services and vMVPDs dropped from 84% in 2019 to just under 50%.