By Naveen Narayanan
In a world awash in viewing options, it’s no longer enough to know who your subscribers are and what they want. What’s equally important is knowing when their loyalties are wavering and what can be done to keep them in the fold.
Here’s what Quickplay is doing to address that need: we’re flexing our rich data science and analytics capabilities muscles in new ways by helping OTT service providers to predict and reduce churn through analysis of subscriber and watch data utilizing AI/ML techniques.
At the Evergent stand (5.D32) at IBC 2022, we’ll be showing how our cloud-native OTT platform can leverage Google Cloud tools and partner products to give streaming providers insights into “survival curves” that can forecast how long consumers are likely to stay on the service based on their subscription levels, previous renewal track-record, video watch patterns, and more. These curves provide insights into reasons for subscriber churn, which can be used to prevent cancellations. The same approach can target satisfied subscribers or cohorts interested in upgrades, new content, or other promotions to accomplish engagement and monetization objectives.
Parks Associates placed the OTT subscriber churn rate at 44% last year. With subscriber loyalty at risk every day, it’s more important than ever for OTT providers to pinpoint when consumers are most likely to make a service change — and to take corrective action. We’re using historical patterns of video viewing, subscriber behavior within the application, and subscription details — in this case, from the Evergent subscriber management system — to give our customers the power to understand which accounts are at risk at any given time and what needs to be done to keep them from disconnecting.
We’re Google Cloud’s 2021 Industry Solution Media & Entertainment Partner of the Year, so naturally, our analytics platform is powered using Google’s Big Query and its Looker business intelligence platform. Leveraging the power of Google tools with our cloud-native platform, we can combine video viewing information such as device, time of day, content genre, session duration, and subscriber behavior with third-party data such as purchase trends, payment methods, and other variables to create accurate dashboarding of each subscriber’s journey. Machine learning capabilities can target subscribers for retention strategies such as promoting relevant content, trial upgrades, or presenting other offers when they cross predetermined thresholds.
The battle for subscribers is becoming increasingly fierce, so OTT providers need as many tools as possible to ensure their viewers remain loyal to their service. Using the power of our data pipeline and automated analytics, we’re giving our customers new insights that can revive relationships with distracted or disaffected viewers. Please contact us at hello@quickplay.com to set up a meeting before, at, or after IBC 2022 to learn more.
