Parks Associates: OTT Video Services Continue to Gain Ground Following Success at Industry Awards

OTT Video Market Tracker analyzes impact of new and existing video services in OTT space

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Mar 09, 2020, 08:46 ET

DALLAS, March 9, 2020 /PRNewswire/ -- New research from Parks Associates' OTT Video Market Tracker predicts OTT video services will benefit as their recognition during awards season in video entertainment continues to expand. For this year's Golden Globes, Netflix, Hulu, and Amazon earned a total of 47 nominations, nearly double the 25 they received last year, with the three services winning two awards each.

Parks Associates: Level of Difficulty in Giving Up OTT Services

"Apple TV+ streaming service found success with its flagship series The Morning Show, which won awards from the Screen Actors Guild (SAG) and Critics' Choice Award," said Steve Nason, Research Director, Parks Associates. "These accomplishments mark Apple TV+'s first industry awards since its launch in November 2019. Awards recognition brings legitimacy to the original content in a streaming service and can be a significant boost especially in the early days after its launch. Such recognition certainly helped Netflix when the company first ventured into original content, and now the service scored 24 Oscar nominations this year, led by The Irishman and Marriage Story."

Netflix's long-term investment in premium original content has helped the service become very difficult for consumers to relinquish. Among Netflix subscribers, 64% feel it would difficult to give up the service, including 47% who feel it would be "very difficult," the highest among top OTT video services measured.

Parks Associates research finds that as of Q3 2019, pay-TV and OTT services reach roughly the same amount of consumers – around 72% of US broadband households. Pay-TV's long-reigning dominance has dwindled as the OTT video service market booms.

The OTT Video Market Tracker features monthly updates on trends and market activities in the OTT video space. Additional features:

Comprehensive tracking of the OTT video services industry
Identification of new OTT video service players, along with industry implications for new services
Changes among existing OTT players, including pricing and business models
Current updates and insights into industry trends and disruption

For information on the OTT Video Market Tracker, contact [email protected].

Parks Associates is cohosting a webcast with Swrve on Tuesday, March 17, titled "Driving Engagement and Reducing Churn in OTT," focusing on strategies to engage OTT subscribers and to make a service irreplaceable. Webcast registration is at http://www.parksassociates.com/swrve-mar2020.

To schedule an interview with an analyst or to request specific research data, please contact Rosey Ulpino at [email protected], 972.996.0233.

About Parks Associates
Parks Associates is an internationally recognized market research and consulting company specializing in emerging consumer technology products and services. Founded in 1986, Parks Associates creates research capital for companies ranging from Fortune 500 to small start-ups through market reports, primary studies, consumer research, custom research, workshops, executive conferences, and annual service subscriptions.

The company's expertise includes digital media and platforms, entertainment and gaming, home networks, Internet and television services, digital health, mobile applications and services, support services, consumer apps, advanced advertising, consumer electronics, energy management, and home control systems and security.

Each year, Parks Associates hosts industry webcasts, the CONNECTIONS™ Conference Series, Connected Health Summit: Engaging Consumers, Smart Energy Summit: Engaging the Consumer, and Future of Video: OTT, Pay TV, and Digital Media. http://www.parksassociates.com

Contact:
Rosimely Ulpino
Parks Associates
972.996.0233
[email protected]

SOURCE Parks Associates