Is OTT Video a Substitute for TV? Policy Insights from Cord-Cutting
利用2012-2016年面板数据，发现每年2.4%的家庭剪线，剪线后互联网使用增加22%，对多系统运营商的支付减少50%，16%订阅新OTT视频，表明OTT视频与电视存在实质性替代，竞争当局应拓宽市场定义。
Abstract The video entertainment industry is experiencing increases in over-the-top (OTT) video usage and cord-cutting behavior. Using unique panel data from 2012–2016, we document the behavior of the 2.4% of households who “cut the cord” annually. After dropping TV, these households increase internet usage by 22%, reduce payments to multiple-system operators (MSOs) by 50%, and 16% acquire new OTT video subscriptions. These results indicate meaningful substitution between OTT video and TV and suggest that competition authorities should consider broadening market definitions. MSOs appear to have little incentive to degrade OTT video, despite OTT video's contribution to declining TV revenues.