Digital Marketing MinuteEvery week we share trends and articles on digital marketing.
Pay-TV Companies are in Crisis Mode
Scott Moritz and Gerry Smith l Bloomberg Technology
Understand the current state and the future of Pay-TV to help you better invest your marketing dollars in the evolving landscape.
Pay-TV is currently on pace to set an ominous record in 2017: the largest loss of subscribers in one year.
More and more American households are “cutting the cord.” For anyone who is not familiar with the term, “cord cutting” refers to discontinuing service from cable or satellite TV providers such as Comcast or DirectTV.
Surprising to some is that Millennials are not leading this trend. Generation X is heavily involved: the average age for “cord cutters” is 43, which makes up 8% of the U.S. population (Main, 2017).
Even worse for the industry are “cord nevers.” As the name implies, this group of consumers has never subscribed to a Pay-TV service. Instead, they and their influencers rely on steaming video and social media for news and entertainment.
“Cord nevers” make up 9% of all U.S. consumers, and consist of Generation Z and Millennials with an average age of 34 (Main, 2017).
To keep up with the evolving consumer, advertisers need to understand these trends and adjust their channel strategy to include streaming video and social networks. Read more