With more and more content becoming available through non-cable outlets, cord cutting and online viewing continues to gain in popularity. This trend is due in part because of consumer dissatisfaction with their existing cable subscriptions, which are expensive and often come with channels that consumers never watch.
With over-the-top streaming services like Netflix or Hulu offering viable alternatives to cable subscriptions, everyone is wondering what impact they will ultimately have on the cable industry. Will consumers be content with OTT subscriptions and content, abandoning cable all together?
An interesting survey from Furious, a company whose SaaS platform gives companies deep insights into their ad campaigns (including addressable TV ones) , provides details about what consumers are watching and why. The survey of nearly 500 people suggests quite clearly that Netflix is the most genuine cable competitor. According to the survey, it was the most popular overall for watching television shows and movies, and the most popular mobile platform. Amazon did not fare as well, while surprisingly enough, millennials were most happy with their cable subscription.
Some other interesting tidbits:
• Amazon Prime was the least popular platform for watching movies and television shows, with only 4.28% of users stating it as their most used platform for consuming content.
• Women were most happy with their cable subscription when compared to men, with 34.33% reporting they have not planned on canceling their subscription in the past six months.
• Millennials reported being the most happy with their cable subscription, with 33.14% of respondents stating they were happy with their service and had not planned on canceling the subscription in the past six months.
• When compared to other generations, Baby Boomers were least likely to have a cable TV subscription, with 37.10% reporting they currently do not have a subscription to cable TV.
• When considering canceling their cable subscription, 11.73% of Generation X reported contemplating the canceling of their cable subscription in the past six months, but the lack of live sporting events prevented them from doing so. This generation had the highest percentage of respondents who were hesitant of cutting the cord due to the access of live sporting events.
• YouTube was reported as the most popular platform for consuming video on mobile, with 44.62% of respondents reporting it as their platform of choice for mobile video consumption
• Both Generation X and Baby Boomers reported live TV as the most bothersome form of video advertising, with 45.17% stating it as the most bothersome video advertising content.
• Compared to other generations, Generation X reported the highest amount of respondents who were bothered by video advertisement on Video on Demand, with 16.67% reporting them as most annoying.