Bangalore, India, June 25, 2020: Pay television (TV) refers to a television broadcasting service based on consumer subscriptions. The pay-TV service may be received through cable TV, satellite TV, or using an internet protocol TV (IPTV).
The global Pay Television market size is projected to reach USD 175.6 Billion by 2026, from USD 192.3 Billion in 2020, at a CAGR of -1.5% during 2020-2026.
Since there has been an increase in the use of streaming content, over the next few years, global Pay TV subscription revenues are projected to decrease. However, Pay TV providers have started introducing value-added services to customers to stay competitive in the market.
TRENDS INFLUENCING THE PAY TELEVISION MARKET SIZE
- The introduction of advanced predictive analytics models has contributed to Over-The-Top (OTT) media’s increasing power to provide better-customized suggestions. This advance has encouraged pay television providers to diversify and develop their services. Pay-TV providers have started offering value-added services such as reduced subscription rates, customizable channel subscriptions according to users’ choice, and internet connectivity at low prices.
- Service providers have started adopting Integrated Broadband Broadcasting (IBB) systems to diversify their service offerings and facilitate better penetration into the market. The combination of broadcast and broadband technologies has created a potential advantage for the efficient distribution of mass content and personalized service.
- High definition or HD bestows on the viewer a better viewing experience. HD content, however, is not accessible via cable networks; therefore, customers opt for the Pay TV satellite that provides access to a range of HD channels. The future foresees a transcendence of the TV industry towards HD content as there is a growing preference amongst the customers.
- Data analytics has made it possible to gain insights into public preferences and the kind of content that can get traction. Consequently, new channels have emerged to cater to specific audiences. In addition, the entertainment industry puts focus on reality shows because they are considered to be more profitable in terms of ads. The customer base subscribes to Pay TV to gain access to these channels.
- User-generated subscriptions and subtle advertisements are a disruptive trend in the entertainment industry, and vendors capitalize on that trend. As a recommendation to potential consumers, Pay TV service providers are introducing innovative marketing strategies such as offering discounts to current customers.
