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Gap Between OTT and Traditional Pay-TV Services Continues to Grow, According to Parks Associates
DALLAS, July 28, 2021 /PRNewswire/ -- Parks Associates today announced the release of its latest Consumer Insights Dashboard, a new ongoing service that analyzes the firm's quarterly surveys of 10,000 US broadband households to track consumer adoption of home services, including home internet, pay-TV, and mobile services. The firm's Video Services Dashboard reveals 82% of US broadband households subscribe to at least one OTT service, up six points year-over-year, while 58% subscribe to a traditional pay-TV service, down four points year-over-year.
"The steady rise in online pay-TV adoption has made up for some of the significant drops in traditional pay TV," said Steve Nason, Research Director, Parks Associates. "Video consumers are looking to online pay-TV services, either from a traditional provider or vMVPD, to offer a similar viewing experience and content offering to traditional pay TV but at a lower price point. However, online pay-TV providers, who don't typically generate content on their own, have had trouble stabilizing subscriber costs as content fees continue to rise."
The research firm reports 25% of US broadband households subscribe to a TV service offering a bundle of live channels via an online provider, including 13% who have both traditional and online pay-TV services. Adoption of vMVPDs, core online pay-TV services that offer bundles of live channels accessible via third-party connected devices, increased four percentage points to 18% in Q1 2021. As Cord-Cutters or Crd-Nevers look for a more live/linear video viewing experience online, vMVPD service uptake has picked up.
"The COVID-19 pandemic accelerated many existing trends in the video services market," Nason said. "Moving forward, consumer preferences will continue to shift online as video viewers perceive these services to be less costly, more convenient, and more aligned with how they want to consume video programming."
Parks Associates presents and analyzes the firm's latest OTT video consumer data at today's virtual session "Impact of Connected Devices on the Video Experience," at 12:30 PM CT, as part of the fourth annual Future of Video conference. The session features executives from Paramount+, 3SS (3 Screen Solutions), WarnerMedia, Universal Electronics Inc., Brightcove, ViacomCBS, and Everise. Future of Video sponsors are Everise, Symphony MediaAI, Deltatre, Brightcove, Future Today, Bitmovin, and Metrological.
For more information on the Video Services Dashboard and other Consumer Insights Dashboards, contact [email protected]. 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, 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
Rosimely Ulpino
Parks Associates
972.996.0233
[email protected]
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SOURCE Parks Associates
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