A survey by Parks Associates has found 24 per cent of UK broadband households are likely to cancel their pay-TV service, up from 12 per cent in 2015.
The IoT in the UK – Entertainment Products and Services report suggested that the intent to cancel is higher among households that watch online video services.
The current number of OTT options and adoption of services in the UK is similar to US figures in 2015. If the UK market follows the US pattern, the average number of per-household OTT subscriptions should increase steadily over the next few years, according to the study.
Parks Associates also reported that 24 per cent of UK households subscribe to two or more services, compared to 43 per cent of US households.
Brett Sappington, Parks Associates research senior director, said: “Subscription streaming services, also called OTT service subscriptions, have become incredibly popular in the UK over the past two years, with 52 per cent of households subscribing to at least one.
“Ofcom, the UK’s video regulator, announced in mid-2018 that OTT video service subscriptions have overtaken traditional pay-TV subscriptions, primarily due to the popularity of Now TV, Netflix and Amazon.
“Comparatively low online video penetration presents opportunities for local and global service vendors to expand their presence in the UK market,” he added.