Over the past few years, DirecTV, like many other cable companies, has been suffering from a popular consumer trend.
Many consumers have been ditching cable companies en masse for streaming platforms, which offer access to a wide-variety of TV shows and films at significantly lower prices.
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According to a recent report from MoffettNathanson, traditional pay-TV providers saw a 12.6% decline in subscribers during the second quarter of 2024. Cable providers lost 1.03 million subscribers, while satellite services, such as DirecTV and Dish, lost 495,000.
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Amid the mass exodus of cable subscribers, DirecTV last year began offering its customers free access to over 90 channels, such as MovieSphere, Fox Weather, Court TV, etc., through its MyFree DirecTV app.
DirecTV said it plans to eventually add “genre-based paid programming packages” to the platform, where customers can pay for “personalized TV subscriptions” in addition to the content offered on the app.
In January, DirecTV also launched its MySports streaming package for $70 a month, which offers access to over 40 sports and broadcast channels.
DirecTV makes another bold move to win back customers
Following these releases, the cable provider is once again ramping up efforts to attract and retain fleeing customers.
DirecTV has just launched three streaming bundles, called Genre Packs, for under $50 a month, according to a new press release. The bundles are cheaper than DirectTV’s traditional cable bundles, which are usually priced between $75 to $150 a month.
One of the new streaming bundles is MyEntertainment, which grants customers access to over 40 entertainment channels, such as Lifetime, Food Network, A&E Network, etc., for $39.99 a month.
Customers who have this bundle will also be able to enjoy access to Disney+, Hulu Bundle Basic, and soon, Max Basic with Ads at no additional cost.
MyNews is another new streaming bundle from DirecTV that contains more than 10 national news channels, such as CNN, CNBC, FOX News Channel, and MSNBC, and select local channels for $39.99 a month.
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For $34.99 a month, customers can also get MiEspañol, a streaming bundle that offers access to over 60 Spanish-language channels. DirecTV is also planning to add ViX Premium with Ads to this package at no additional cost.
In addition to the three new streaming bundles, DirecTV is also offering two new smaller-sized bundles, called Mini-Packs, that can be added to larger streaming bundles for an extra fee.
One of the Mini-Pack bundles is MyCinema, which includes seven channels that feature “classic films, romance, and family programming” for $9.99 a month. Some of those channels include Turner Classic Movies, Great American Family and SONY Movies.
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For sports fans, DirecTV is also offering MySports Extra, a Mini-Pack bundle for $12.99 a month, that delivers sports channels such as MotorTrend, Willow TV and NFL Red Zone.
“Our new Genre Packs and Mini-Packs provide lower-priced options, allowing customers to pick and choose what they want to watch and when they want to watch it,” said Vince Torres, chief marketing officer at DirecTV, in the press release
Consumers are starting to change their attitude about streaming services
While cable TV is withering away in American households, many Americans are also starting to cut the cord on streaming services.
According to a recent survey from digital security firm All About Cookies, 84% of Americans have canceled a streaming subscription in the past, and 44% of the survey’s respondents said that price increases led them to make this decision.
Also, 30% of survey respondents said they canceled because they barely use the streaming service, and 29% said it was too expensive.
Amid this growing trend, free streaming platforms are growing in popularity.
For example, Paramount, which owns PlutoTV, revealed during an earnings call on Nov. 8 that PlutoTV reached “record engagement” during the third quarter of 2024.
During an earnings call on Nov. 4, Fox also revealed that its free ad-supported streaming platform Tubi faced “strong engagement” during its fourth quarter last year.
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