NEW YORK, Oct. 19, 2016 /PRNewswire/ -- Increasingly, consumers are embracing "over-the-top" providers such as Netflix and Amazon Prime, and they're even choosing these services instead of traditional TV. In fact, 86% of video-on-demand subscribers say they're satisfied with their streaming service, according to a new survey by ReportLinker.
Recent Video-on-demand services updates
1. Cord-cutting is a big challenge for TV industry.
2. Netflix expects to add 2.3 million net subscribers.
3. A new player in the market: Pluto TV.
Reportlinker Insight published a survey to answer 2 questions :
1. How popular are 'over-the-top' services ?
2. Who uses them and how ?
1. Millennials Embrace Video on Demand, But Other Generations Like It Too
a. Netflix is by far the most popular video-on-demand service, with 64% of all US subscribers.
b. Millennials are embracing it more than older generations: 65% of Millennials say they use the services, compared to just 44% of other generations.
2. Viewing Preferences of VOD Users
a. Among Millennials, 61% prefer using their laptops, and 64% stream VOD content on their smartphones. Other generations are more likely to use tablets or desktops.
b. Video-on-demand users spend more time watching than non-users.
3. Cutting the Cord
a. The services are so inexpensive that users often subscribe to more than one at once. For example, 62% of Netflix subscribers said they also used YouTube, and 49% also subscribed to Amazon Prime, suggesting significant overlap.
b. Cost is the top reason cord-cutters say they're attracted to video-on-demand. But subscribers are also attracted to a number of other features. Topping the list is access to an unlimited number of films or series, according to 25% of respondents to ReportLinker's survey, followed by convenience (21%) and the wide selection of offerings (16%).
4. Original Content Is a Competitive Advantage
a. To win new customers and retain existing subscribers, video-on-demand services need to differentiate themselves from their competition.
b. More than 90% of video-on-demand subscribers say original content from their video-on-demand service is the same or better than the licensed content it offers.
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About Reportlinker Insight
Reportlinker Insight combines analysis and exclusive investigations.
We cover innovations, social and economics megatrends to understand the world of tomorrow.
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