Verizon FiOS, one of the nation’s largest telecoms and triple play providers, has determined that its Flex View mobile service has encouraged customers to renew their FiOS subscriptions. According to the company’s internal audits, FiOS subscribers with Flex View are three times more likely to continue their FiOS service rather than to switch or cut the cord.
The statistics show an encouraging picture: for people who use Flex View to watch content on their iPad or other mobile device, the average is 47 minutes of engagement per session. For those who use their Xbox to access Flex View, the average goes up to 58 minutes per session.
There are many reasons why Flex View is so important in reducing customer churn. First and foremost, it reminds consumers that their pay TV service is versatile and useful outside the home. Customers are more likely to cut the cord if they feel that their entertainment needs are being met elsewhere. With the popularity of online video streaming services such as Netflix and Hulu, it makes sense for cable and satellite TV companies to step up and offer similar services if they want to hold on to their customers.
People also want to feel that they are getting real value for their entertainment dollar. With mobile video streaming included in most pay TV packages, it’s easy for consumers to feel that their TV service is worth every penny—especially if they love using their tablet or smartphone.
For now, online video streaming is the next frontier in cable and satellite TV. Verizon FiOS is only one of the many companies that are moving fast to expand their TV Everywhere offerings, which should be a boon to today’s digitally inclined consumer.