A brand new report has discovered that 40 million US web households trialled and subscribed to a minimum of one OTT service within the first half of 2021.
Regardless of an business shift away from free trials, the brand new report from Parks Associates has discovered that they’re nonetheless an efficient approach of making certain prospects signal as much as a service. The report goes on to notice that just about 50% of US web households trialled a minimum of one service in previous six months, and 78% of these households ended up subscribing to a minimum of one in every of these companies by the tip of their trial.
Parks Associates: Subscription Fee by Variety of Trials
Eric Sorensen, senior contributing analyst, Parks Affiliate, mentioned: “Trials are an efficient onboarding software, with 40 million households trialling after which subscribing to a minimum of one service previously six months,” mentioned s. “The extra companies shoppers attempt, the extra they’re prone to subscribe to a minimum of one. Customers who regularly trial completely different companies are extremely engaged video shoppers typically, so companies must cater to those customers.”
Netflix and Disney+ are two of the highest-profile streamers which have moved away from the ‘free trial’ mannequin previously years.
Sorensen concluded: “Low value limitations drive shoppers to enroll in free trials, however the content material will preserve them. All content material creation efforts are targeted on buying new prospects and retaining those that are already subscribed by offering compelling content material.”
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