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%.
In addition to forming a soon to be named MVPD committee and conducting special MVPD-focused keynotes and sessions during the NATPE Virtual Miami conference in January (19-21), there is a kickoff event planned for December 15.
As a result of accelerated chord-cutting, pay-TV services will lose 36% of their 2020 subscriber base. Less than half of total U.S. broadband households will have ties with multi-channel providing services.