The general consensus over the last few years in the pay TV industry is that most customers are unhappy and are abandoning traditional pay-TV models for over-the-top (OTT) streaming service alternatives.
According to a new study, however, pay TV providers are actually doing a better job of keeping customers satisfied.
The study, by J.D. Power and Associates, found that consumers are spending almost an hour more per week watching regularly scheduled programming than they did in 2015. The average household is now watching an average of 17.4 hours of regular TV in a typical week. This is an increase from 16.6 hours in 2015.
The study indicates that this can be attributed to technological advancements in the pay-TV industry.
“What we see is customers are much less likely to cut the cord if they have a good experience engaging with a provider’s technology and the set top box experience,” stated J.D. Power Technology, Media and Telecommunications Practice Lead Peter Cunningham. “What customers care about the most is just making sure the product works. They just want to make sure the network itself is solid.”
What’s more, the upturn in the economy is another reason why consumers are expressing satisfaction with pay-TV services. When the economy is down, consumers are more likely to abandon their expensive offerings and turn to cheaper OTT solutions. Now that the economy is at a 12-year high, consumers are feeling better about spending more on media and entertainment.
We hope to see this exciting trend continue throughout 2018 and beyond. This is a very positive sign for the industry—and further evidence that the “cord-cutting apocalypse” probably isn’t going to happen.