Netflix and traditional pay-TV are neck and neck in subscribers, at least that’s what a study conducted by the PwC is suggesting. The survey, which consisted of 2,000 consumers, found that 73% subscribe to a traditional pay-TV service, down from 76% in 2016. Meanwhile, the percentage who said they subscribe to Netflix was also 73%.
It was also found that the number of OTT subscribers who are 50 and above is increasing. Out of those surveyed between the ages 50-59, 63% said they streamed TV content versus just 48% last year. Meanwhile, 87% between the ages of 18-24 said they streamed TV content and 90% of those between 25-34 said the same.
As traditional Pay-TV subscribers continue to dwindle, cable and satellite companies scramble to hold on to the customers they have left. Many — such as DISH, U-verse, DirecTV, and Verizon — have shifted focus towards developing OTT platforms of their own, both live and on-demand. DISH was one of the first companies to offer live television when they introduced Sling TV to the public in 2015. So far the service has done a decent job at wooing audiences, the platform recently made the Parks Associates Top Ten OTT Services, which was based on the amount of subscribers each platform had — unfortunately, the Parks Associates wouldn’t share the exact numbers.
It hasn’t been an easy ride for every company trying to transition to the digital side, with an estimated 200 OTT platforms on the market, it can be tough to stay afloat. AT&T and NBCUniversal learned this the hard way. Both launched an on-demand streaming service in an effort to reach younger audiences and both failed. Seeso, NBC’s comedy-focused platform, called it quits this past August after launching in 2016, and the streaming arm of Fullscreen — owned by Otter Media, a joint venture between AT&T and the Chernin Group — is set to close its doors in 2018 after an unsuccessful run.