Parks Associates: 87% of US Internet Homes Have At Least One Streaming Video Subscription

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Mar 28, 2023, 08:46 ET

Parks Associates to unveil latest streaming video market insights and new online tracker tool in upcoming research webinar

DALLAS, March 28, 2023 /PRNewswire/ -- Parks Associates is hosting a special webinar on Wednesday, April 5, at 10:30 am, featuring an exclusive sneak peek at the company's new and improved OTT Video Market Tracker online service. The firm tracked 354 independent OTT services in the United States in 2022, with 87% of US internet households having at least one OTT subscription service.

Parks Associates: Usage of AVOD/FAST Services in the Past 30 Days, among US internet households

The research webinar, OTT Video Market Tracker: Insights into the Evolving US Streaming Landscape, will highlight key service growth in the US, including service models, pricing, content acquisition, and partnerships in the OTT market. The streaming market in the United States is rapidly evolving, and Parks Associates has adapted its landmark OTT Video Market Tracker so that clients can easily get updates on market growth, new trends, and profiles of all OTT players. The webinar will preview this new client experience and provide insights into the latest trends and developments, including the increasing prevalence of ad-supported lower-cost tiers and the growth of ad-supported standalone services (FAST and AVOD), which are market growth drivers.

"Despite the dominance of subscription over-the-top (OTT) services, 44% of households continue to watch some form of pay TV, indicating that there is still interest in live/linear and ad-supported forms of content," said Jennifer Kent, VP of Research, Parks Associates. "As consumers examine their finances out of fear of a recession, free streaming television continues to gain popularity. Savvy, ad-tolerant customers will view advertisements in return for cheaper solutions."

The webinar will highlight the importance of innovation and hybrid business models for maintaining future subscriber and viewership growth. Attendees will gain valuable insights into the latest trends and strategies for success in the highly competitive OTT market.

Parks Associates' OTT video and entertainment data:

40% of US internet households share or use shared credentials, up from 27% in 2019.
63% of US internet households own a smart TV.
Nearly half of OTT subscribers hop between services multiple times over a 12-month period.
48% of subscribers cited content or a specific program as the primary motivation to subscribe to a new service.

"We are excited to show off our new tool to help the industry track the disruptive streaming market," Kent said.

Register for the webinar today. To schedule an interview, please contact Rosey Sera at [email protected] or 972-490-1113.

About Parks Associates
Parks Associates, a woman-founded and certified business, is an internationally recognized market research and consulting company specializing in emerging consumer technology products and services. Founded in 1986, Parks Associates provides business intelligence and research services through its proprietary methodologies developed over decades, including quarterly surveys of 10,000 internet households.

The company's expertise crosses many industries: home security and smart home, streaming video, broadband and pay-TV services, digital media and platforms, gaming, Wi-Fi and home networks, connected health, support, consumer electronics, home control systems, energy management, and tech solutions for the multi-dwelling (MDU), small-to-medium business (SMB), and commercial building markets.

Each year, Parks Associates brings thousands of leaders together for its webinars and annual events. The firm hosts the annual executive research and strategy conferences CONNECTIONS™, Connected Health Summit, Smart Energy Summit, Smart Spaces, and Future of Video. http://www.parksassociates.com

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Rosey Sera
Parks Associates
972.490.1113
[email protected]

SOURCE Parks Associates