Consumers are always finding new ways to enhance their TV watching experience, with the majority choosing to connect to the Internet on their TVs.
A report by market research firm The Diffusion Group (TDG) revealed 63 percent of customers with broadband Internet owned at least one TV connected online in January, up from 53 percent year-over-year, according to Telecompetitor. This research shows the growing popularity of Internet-accessible devices as more consumers are connecting to the Internet using smart TVs or through their game consoles, set-top boxes and other Internet-enabled technology.
While some may believe the increased usage of Internet streaming services could cause customers to cancel their cable subscriptions, the popularity of Internet-enabled devices may actually cause a resurgence in growth for cable and video firms. For example, live local broadcasts are a major reason for keeping traditional video services.
Consumers may buy more types of these devices as the average household had 1.6 units of net-connected devices with 42 percent of consumers owning two or more connected devices, according to TDG. Therefore, providers may consider enhancing their Internet video services as part of their strategic growth objectives.
Prepare for the Rise of Internet-connected Devices
Consumers are likely to have more devices that are able to stream online video or access Web pages. As more customers shift to Internet streaming, IPTV providers may have to offer more versatile streaming or advanced solutions to satisfy consumer demand for an enhanced TV viewing experience.
Therefore, as customers move further away from using only traditional services in favor of Internet-enabled TV viewing, we may see cable and video services providers updating their current offerings to include Internet-connected technology and solutions.
Utilities, telecommunications companies and municipalities that offer TV video services can take advantage of this emerging trend. They could give consumers the choice to purchase an Internet-connected set-top box or other device along with their regular cable and video packages.
Telecommunications companies are able to add net-enabled set-top boxes or DVRs to allow consumers to stream video. Providers could increase streaming efficiency with their Internet services to differentiate themselves from the competition and add more value to their services.
The TV connectivity and multiscreen viewing trend could be a great opportunity for companies to enhance their Internet video services as part of their 10-year strategic plan.
But sometimes it’s not enough to have the right equipment to rise in the ranks. Utilities may also work with a supply chain partner that is dedicated to informing them about the latest trends to help keep suppliers in the loop.
You have a partner in Border States to help guide you in determining and providing the solutions that are important to your operations in the future.