Over 60% of Free Trial Users Will Pay for Service: Vimeo Report
For over-the-top (OTT) video services, free trials are an essential way to attract customers. Video-sharing site Vimeo released its State of the OTT Audience 2018 report, and one of its findings is that no matter the platform, over 60 percent of viewers who make use of a free trial go on to become paying customers.
The report looks at data for 3.6 million viewers who subscribe to paid content on the Vimeo platform. Free trial rates are highest for iOS (69.6 percent) and Roku (69.4 percent) viewers, and lowest for people using Android (62.7 percent), but all rates are above 60 percent.
For services considering offering a free trial, Vimeo says having an app is helpful. Potential customers are 33 percent more likely to sign up for a free trial through an app than through a website. Some of its OTT customers have achieved conversion rates of 72 percent through app sign-ups.
Citing data from Parks Associates, Vimeo notes that over a quarter of all broadband-equipped households in the U.S. signed up for at least one OTT service free trial in 2017. “Free OTT trials are effective in converting a sizable portion of trial users into subscribers,” says Glenn Hower, a senior market research analyst for Parks.
For more OTT data, download Vimeo's report for free (registration required).
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