Live streaming TV audience numbers are falling short – at least so far.
The study noted that nearly a dozen new players entered the video streaming market last year, almost all touting live video streaming. Yet, except for sports and news, there is little demand for live content.
“TV providers are failing to recognize that the habits and needs of the viewer have dramatically changed, and the old rules of television no longer apply,” said Greg Mishkin, vice president of research and consulting at Market Strategies. “TV providers must evaluate and revise the business model to fit the needs of the consumer, because if they don’t they are setting themselves up to fail.”
Market Strategies International reported that “nearly three-quarters (73%) of the population use streaming services and nearly one-third (29%) of those who stream have either canceled or downgraded their traditional TV services.”
“The most successful streaming companies are the ones that have gone outside the components of the traditional pay TV format: broadcast channels, scheduled live programming, and programming guides,” MSI reported. According to MSI, Netflix “has set the bar for other streaming providers.”
“While Netflix has the highest use rate and share of wallet by a long shot and is the provider to beat, there is not a clear winner yet,” said Mishkin.
The full report is available at StreamOn.
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