While the pay-TV industry has had a dark cloud hanging over its head over the past couple of years – recently reporting its worst 12 month stretch ever – it recently got some good news. According to research by Parks Associates, more than 103 million U.S. households will subscribe to pay-TV services by the end of 2014. However, it wasn’t all good news as two-thirds of subscribers expressed interest in features they don’t currently have.
“Our research shows 31 percent of pay-TV subscribers want remote DVR access, while 27 percent are interested in TV Everywhere and 26 percent in personalized recommendations. For these services to succeed, providers must increase awareness of their offerings while balancing cost concerns of their subscriber base,” said John Barrett, director, consumer analytics, Parks Associates.
Barrett is right on the money when he said that providers must increase awareness of their offerings as it was recently revealed that only one-fifth of respondents even knew what TV Everywhere meant. Moreover, pay-TV customers are more aware of TV Everywhere services from networks like HBO than they are of the same services offered by pay-TV companies like Comcast or Time Warner, according to a survey by GfK’s media research division.
The study claims that this might be because TV networks have put more marketing dollars in support of their TV Everywhere programs while cable TV companies have focused on driving awareness of mobile programs specifically. Whatever the case, pay-TV providers must place more emphasis on their TV Everywhere services as it might be the only way to stop cord cutting and satisfy today’s hungry consumers.