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Smart TVs: The Entertainment Centerpiece of the Home – Industry Voices: Parks

Amid a slowing economy and the threat of inflation, consumer spending slowed over 2022. Despite this, consumers remained invested in streaming video consumption, with a record-high 23% of internet households subscribed to nine or more services in Q1 2022, according to Parks Associates. The streaming device market is maturing rapidly as a result.

Parks Associates’ research reveals that 55% of US broadband households now own a smart TV. Additionally, 58% of those households use the smart TV as the device they access most frequently to watch streaming video. Further, 49% of US broadband households subscribe to four or more services as of Q3 2021. The research firm reports that companies should maximize their available market in this highly active and competitive business environment by supporting a varied mix of devices.
 

From the article, "Smart TVs: The Entertainment Centerpiece of the Home – Industry Voices: Parks" by Elizabeth Parks.

Previously In The News

Cutting the Cord: Next year will bring even more streaming options

Amazon and Hulu, which has joined Netflix and Amazon as a creator of its own original content, will retain their solid spots as Nos. 2 and 3 in streaming subscriptions. The top three services have "to...

Cutting the Cord: What won't happen in 2016

Parks Associates research analyst Glenn Hower is prepared to be proved wrong, but he remains skeptical about an Apple streaming entry. "With Sling TV and PlayStation Vue in the market, Apple is now pl...

Everybody’s Doing It: How People Use Their Smartphones

Smartphones owners can’t keep their content on their phone, a Parks Associates survey of broadband households found. Thirty-five percent of smartphone owners stream music to speakers, and 24 percen...

IoT-Ready Smart TVs: What's The Potential?

Barbara Kraus, Parks Associates director of research, also sees potential. “There are a number of potential use cases for the TV as a smart-home controller,” she said. “The TV display can be used as a...

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