Nearly 50% of those wanting to subscribe to HBO's standalone streaming product are willing to cancel their bundled cable subscription once the new service is available.
These results are part of a new survey conducted by Parks Associates interviewing 10,000 U.S. broadband households. Of these households, 17% said they were likely to subscribe to HBO's standalone over-the-top (OTT), which the survey hypothetically priced at $14.99 a month.
Out of those wanting HBO's new streaming service (of which 91% are existing pay TV subscribers), half would be willing to cord-cut and cancel their cable bundles.
With HBO currently only available as part of a cable package, it is well known that many cable subscribers are only keeping their services in order to access HBO's award winning program line-up. This new survey would seem to confirm that HBO's decision to "go it alone" could end up costing cable providers dearly.
Over 50% of US households already subscribe to an OTT video service, and major players in the video industry will need to re-adjust, according to Parks Associates.
"This shift to the use of OTT on the TV screen will impact the entire ecosystem, including pay-TV providers, broadcasters, cable networks, and advertisers. Everyone will need to adjust to a new way of doing business," said Brett Sappington, Parks' director of research.