Parks Associates: 23% of Ad-Supported OTT Service Users Say They Often Click on Ads or Purchase Items in Those Ads
New industry report addresses factors driving growth in ad-based online video
DALLAS, Nov. 14, 2022 /PRNewswire/ -- Parks Associates research finds nearly one in four users (23%) of ad-supported OTT services said they often click on ads that they watch and the same percentage (23%) often buy things they see advertised. The research report Ad-Based OTT: Growth in FAST and AVOD Services explores factors driving the growth of ad-based online video, profiles and compares market leaders, and assesses consumer preferences in watching ad-based content.
Parks Associates will highlight its research in video services and consumer viewing habits at its upcoming Future of Video, December 12-14 at the Marina Del Ray Hotel in Marina Del Ray, Ca. The event features keynotes from these industry leaders:
- Domenic DiMeglio, Chief Marketing Officer, Paramount Streaming
- Nandhu Nandhakumar, Senior Vice President, Office of the CTO, LG Electronics
- Katherine Pond, Group Vice President, Platform Content and Partnerships, VIZIO
- Daniel Rausch, Vice President, Entertainment Devices & Services, Amazon
"Now, 37 million US internet households use at least one advertising-based OTT streaming service," said Alan Bullock, Sr. Contributing Analyst, Parks Associates. "Hybrid models, especially when AVOD or FAST are included, enable quick customer acquisition and a 'try before you buy' experience with the content offering. Advertisers can reach many people, and consumers can get a lot of free content."
Ad-based services are benefiting from the current uncertain economic climate. Inflation and fears of recession are causing consumers to evaluate discretionary spending, and switching from legacy pay-TV or subscription-based streaming services is a means of cutting costs.
"As consumers continue to move away from traditional pay-TV services, they will first seek out ways to watch the content they want in ways they are accustomed to—a relaxed, lean-back experience," Bullock said. "Even so, ad-supported streaming services should strive to be more than simply traditional TV on the internet. This is a time for thoughtful data-justified innovation, building a better experience than the living room TV of the past could ever offer."
For more information on Ad-Based OTT: Growth in FAST and AVOD Services, contact [email protected].
Parks Associates' sixth annual Future of Video conference , sponsored by Adeia, FPT Software, Quickplay, SymphonyAI Media, Comcast Technology Solutions, Metrological, and Friend MTS, brings together industry leaders for visionary presentations, interactive panel discussions, and analyst insights on December 12-14 in California. Register now or find more information at www.futureofvideo.us.
To request data or to speak with an analyst, contact Rosey Sera at [email protected] or 972-490-1113.
Parks Associates, a woman-owned and woman-led internationally recognized market research and consulting company, specializes in emerging technology solutions serving the consumer and small to medium business (SMB) markets. Celebrating its 35th year in 2021, Parks Associates is a partner to companies navigating the changing consumer technology landscapes through data-driven market insights, extensive consumer and industry intelligence, custom marketing services, and executive networking experiences and conferences.
The company's expertise includes home automation, control systems and security, digital media and platforms, entertainment and gaming, home networks, internet and video services, connected health and independent living solutions, mobile applications and services, support services, consumer electronics, and energy management solutions.
Each year, Parks Associates hosts industry webcasts, the CONNECTIONS™ Conference Series, Connected Health Summit, Smart Energy Summit: Engaging the Consumer, and Future of Video: OTT, Pay TV, and Digital Media. http://www.parksassociates.com
Contact:
Rosimely Sera
Parks Associates
972.996.0233
[email protected]
SOURCE Parks Associates
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