Research is showing that consumers are open to upgrades to premium subscription TV packages. From a basic subscription of pay-TV, it can be upgraded to a package with added privileges that includes discounts and exclusive offers. According to a new Vindicia survey, 90 percent of pay-TV subscribers are interested about this.
More than half of the population of the pay-TV subscribers are moreover â€œvery interestedâ€ or on the other hand â€œextremely interested in availing these type of privileges. Consumers are willing to have an extra payment every month just to avail this promo. As a matter of fact, 76 percent of consumers are willing to pay $3.99 extra each month for a subscription that provides them special access to premium content or members-only benefits. The percentage would increase up to 84% if the additional price is set at $1.99.
Gene Hoffman, the Chief Executive Officer of Vindicia, said, â€œVindiciaâ€™s subscription survey offers two compelling truths. First, as long as service providers deliver sustained and visible value for money, customers will stick around. Second, demand for value-added benefits is so high that service providers can consider it a reliable avenue for significant business expansion. Our survey found that despite the notion that consumers donâ€™t want to add more financial obligations to their lives, they are very willing to pay for the services they value.â€
But there are still some subscribers whom on the other hand stop in availing this subscription. In a study made about this, different reasons rise why consumers cancel their subscriptions. Among consumers who recently stop their subscription, 39 percent of them said that they no longer see the essence of the subscription; the other 36 percent have the reason that they are sick of financial obligation; the other 34 percent alleged that the use of this subscription would no further exist for them. While the other 13 percent state that they are experiencing billing complications like difficulties with updating credit card information and confirming payment details.
MatrixStream offers a complete OTT IPTV solution that gives operators complete control over their TV packages. Operators have the flexibility to offer basic subscription IPTV packages with multiple options for upgrades to premium offerings. Operators have total control, and have the ability to test market various packages to see which one will work. For more information, please contact MatrixStream sales team.