DALLAS, March 10, 2020 /PRNewswire/ -- International research firm Parks Associates finds the churn rate among all OTT services was 35% in 2019, an increase of 25% from 2018. The firm will examine strategies for OTT services to counter churn and attract new viewers during the complimentary webcast "Driving Engagement and Reducing Churn in OTT," cohosted with Swrve on Tuesday, March 17, 1 p.m. CT. Executives from Cinedigm, Swrve, and Parks Associates will present industry insights and share analysis on strategies service providers can use, including incentives and strategic partnerships, to drive viewer engagement and grow their brands.
Swrve is an enterprise customer engagement platform that helps leading brands scale personalized interactions over millions of customers in real time. Topics addressed during the webcast:
Key factors and trends driving OTT service engagement and customer churn
Profiles of successful OTT providers
Best practices of customer engagement strategies
Bob Strohmeyer, SVP of Global Customer Success, Swrve, and Alexandra Viglione, Product Marketing Director, Cinedigm, will participate in the webcast to address key market factors and trends driving OTT services, strategies to increase engagement, and best practices to measure value on new initiatives.
"Anticipating and acting on consumers' behaviors across channels empowers brands to have relevant engagement that can drive monetization and retention strategies," Strohmeyer said. "We look forward to a discussion about proven best practices helping companies in this competitive market."
Parks Associates' consumer data notes churn among vMVPDs (virtual multichannel video programming distributors or online pay-TV providers) was 81% in 2019. However, over two-thirds of vMVPD subscribers would find it difficult to give up at least one of their current subscriptions, so providers that offer the right mix of content, personalization, and ease of use can secure very loyal subscribers.
"Overcoming high churn and driving engagement are notable challenges for video service providers, especially as the market becomes more saturated and penetration rates slow," said Steve Nason, Research Director, Parks Associates. "OTT services are offering free trials and promotional offers to drive initial service uptake, but these tactics are also leading to sky-high churn rates. To secure long-term subscriber fidelity, providers need to offer more, including original content and a personalized user experience."
To request data or an interview, please contact Rosey Ulpino at [email protected], 972.996.0233.
About Parks Associates Parks Associates is an internationally recognized market research and consulting company specializing in emerging consumer technology products and services. Founded in 1986, Parks Associates creates research capital for companies ranging from Fortune 500 to small start-ups through market reports, primary studies, consumer research, custom research, workshops, executive conferences, and annual service subscriptions.
Parks Associates hosts industry webcasts, the CONNECTIONS™ Conference Series, Connected Health Summit: Engaging Consumers, Smart Energy Summit: Engaging the Consumer, and Future of Video: OTT, Pay TV, and Digital Media. http://www.parksassociates.com
About Swrve Swrve is the leading mobile marketing and customer engagement platform helping leading enterprises achieve real-time, relevant customer engagement that drives measurable business value. World leading brands such as Verizon, Sony Pictures, NETGEAR, Three UK, Telefónica, and Woolworths Ltd., use Swrve to identify, predict, and anticipate the needs of customers with real-time behavioral data across mobile, web, and TV apps. Learn more at swrve.com or follow us on Twitter and LinkedIn.