TiVo Study Finds Consumers Are Combining Pay TV and SVOD Services While Using Netflix to Find New Content
A new TiVo study has found that even though cord-cutting is more ubiquitous than ever, consumers are still holding onto their pay TV subscriptions, sometimes opting for a combination of both. More than 80 percent of survey respondents admitted to still having cable/satellite service, and the numbers indicating that they are “very satisfied” with this service increased 9.4 percent year over year. On the other hand, numbers of customers who were “very satisfied” with services such as Sling TV, DIRECTV NOW and YouTube TV decreased by 37 percent since 2018.
The study, titled Video Trends Report: An Ocean of Options, also reported that multi-service usage has grown 14 percent year-over-year. In addition to pay TV, consumers are utilizing some sort of SVOD as well as AVODs such as YouTube or Facebook.
TiVo also reported that when it came to looking for new content to watch, Netflix leads the pack. Almost 39 percent of respondents said they turn to Netflix to find new movies or TV series they’ve never seen before. Cable/satellite TV came in second at 26.9 percent, while Amazon Prime Video was closely behind at 25.5 percent and free YouTube videos was 23.6 percent.
However, when it came to finding new episodes of regularly-watched series Netflix fell behind at 18 percent, while pay TV dominated the pack with 40.4 percent of respondents indicating they go that route. The study also found that 19.2 percent of viewers turn to free YouTube videos to rewatch movies and TV shows they’ve already watched before.