74% of global viewers plan to move away from pay-TV services

New Ideas in MarketingEssential news for marketers, summarised by YouGov
March 09, 2020, 11:01 AM UTC

Online video subscriptions have grown 63% among the 65-plus age group since 2019.

This article cites a report by Grabyo which revealed that 74% of global video customers would stop purchasing pay-TV services within the next five years. They are likely to shift to the more affordable streaming services. 13,000 consumers across 11 countries were polled.

The article states that global penetration of online streaming has reached 55% of consumers. It is at 50% for pay-TV adoption. 35% of Americans currently subscribe to two or more online video services, and around 47% are willing to pay up to $35 a month for them.

28% of UK consumers pay for two or more OTT services, with 40% of customers willing to pay up to £35 a month. Online video subscriptions have increased 63% in the 65-plus age group since 2019.

Read the original article

[2 minute read]