Free Trials Important Drivers for Paid OTT Subscriber Growth, Says Parks
Advances in artificial intelligence and machine learning will spur better-informed data gleaned from free streaming video service trials, resulting in improved user experience and content offerings, said Parks Associates analyst Steve Nason Friday. Free trials are important drivers to paid…
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subscriptions, he said, noting 40% of U.S. broadband households trialed at least one over-the-top video service during the COVID-19 pandemic. By leveraging data on viewer activities and preferences, providers can personalize services to improve subscriber “stickiness,” he said. Some 42% of households subscribing to an OTT service during the pandemic cited a free trial as a key driver for the new subscription, Parks said. Average monthly spending on OTT video service subscriptions was $16 in Q1. Parks is holding a virtual Future of Video conference Dec. 14-16.