The likelihood of live TV streaming customers switching services in the next year is about 1-in-8, while the likelihood of cable and satellite customers switching is 21%, according to the J.D. Power 2023 U.S. Television Service Provider Satisfaction Study released today.
The reason for lower anticipated switching among streamers is higher satisfaction, according to the research company. A significant factor driving the higher satisfaction is lower cost: The cost for live TV streaming averages $69 per month vs. $113 per month for cable and satellite.
“Although the cost of running a cable or satellite providing company is innately more expensive given the engineering and execution of such a service, it is hard to ignore the vast difference in cost between them and the live TV streaming companies,” Carl Lepper, J.D. Power senior director of technology, media and telecom intelligence, said in a prepared statement.
“Despite the varying cost, streaming is succeeding in all areas, especially customer care,” Lepper continued. “Of the mere 30% of all streaming customers contacting customer service this year, 84% feel that it was somewhat or very easy to resolve their problem. This is key to not only maintaining their current customer base, but also for continued growth.”
Among the study’s key findings:
- YouTube TV ranked highest in live TV streaming with a 795 score; Hulu + live TV was second, at 785.
- DISH ranked highest in the cable/satellite TV–national segment for the sixth consecutive year, with a score of 709. DIRECTV (705) was second.
- Verizon Fios placed highest in the cable/satellite TV–east region with a score of 746 for the second consecutive year. DIRECTV (702) was second and DISH (699) third.
- DISH was highest in the cable/satellite TV–north central region with a score of 699, ahead of Cox Communications (694) and Xfinity (689).
A recent Nielsen report that found that more than one-third of time spent watching TV was via streaming services.