Television networks and some of the major satellite networks suffered a huge loss of subscribers during the second quarter of 2016. This has urged the major providers to offer more on-demand access to their subscribers. Satellite providers believe that this new offer will minimize the “cord-cutting” process.
Subscribers have been opting for streaming services instead of television networks for quite some time now. One of the main reasons for this shift is because streaming services offer a better video-on-demand access, but the frequent price hikes, and many of the channel-provider disputes, have also led to this trend.
Streaming services have been attracting plenty of customers since the last few years. The amazing on-demand quality and wide selection of popular TV shows and movies they offer has urged viewers to choose streaming services such as Netflix and Hulu over satellite providers.
The television networks receive revenue sources from satellite and cable services, and this is the reason why they want viewers to stay with them, who provide the largest revenue source for them. The data’s from SNL Kagan suggest that cable channels receive approximately $52.7 billion from pay TV operators. The data also reveal that this amount is greater than half of the total revenue.
In order to satisfy the needs of their subscribers, the cable networks have enabled a sufficient increase in their on-demand service. This will allow subscribers to watch latest episodes of their favorite TV shows through mobile apps, websites, and set-up boxes.
The satellite and cable providers suffered an enormous loss of over 750,000 subscribers during the second quarter. Furthermore, the loss continued over the past few months, and according to reports, approximately 1.3 million subscribers were lost in the past year.
Records further indicate that almost 566,000 subscribers disconnected their cable packages in the second quarter of 2016. The loss of subscribers has affected the satellite providers badly and they aim to come back through this exciting offer.
Streaming services such as Amazon Prime and Netflix have been a great threat for satellite and cable providers over the last few months. These streaming services were also capable of attracting more subscribers in the past year.
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