The rapid growth of streaming video and internet-based television has empowered viewers to watch the content of their choice whenever they want, wherever they want, as often as they wish.
Yet there are still pain points around the viewing experience, from irrelevant ads to compounding subscription fees and technical challenges to a lack of compelling content. These factors often lead audiences to cancel subscriptions.
IBM Cloud Video Unit recently conducted a consumer survey to find out more about these pain points, revealing that applying data and analytics to gain insight into viewing habits will be crucial to the success of service providers. The companies that best apply data about their own audiences to optimize services, understand behavior and solve for pain points will be the ones that come out on top.
Here are three key findings:
With 27 percent of viewers likely to cancel subscriptions because of excessive ads, it’s clear that dismissing audience preferences can make or break a relationship. By surveying analytics and determining whether audiences are willing to tolerate five-minute pre-roll ads or thirty-second mid-rolls, service providers can optimize viewing for consumers while ensuring advertisers get the engagement they want.
Data can also alleviate concerns associated with password sharing, once believed to cost the industry a half-billion dollars in lost revenue.