29% of US households subscribe to eight or more subscriptions
Parks Associates has released its updated list of the top 10 US subscription streaming video services, based on estimated numbers of subscribers through September 2023 from the firm’s Streaming Video Tracker. Streaming leaders maintained their market position, including Prime Video in the top position above Netflix. Paramount+ moved ahead of ESPN+, and YouTube Premium pushed into the 10th position for the first time.
The research firm reports that 89% of broadband households have at least one OTT service, 41% have used an AVOD service in the past 30 days, and 29% subscribe to eight or more OTT subscriptions.
"The market for subscription services is saturated, and consumers continue to experiment with ad-supported services as they evaluate their budgets,” said Eric Sorensen, Director of the Streaming Video Tracker at Parks Associates. Sorensen confirmed a continued shift toward FAST and AVOD services, as well as the bundling of channels, services, and creative distribution partnerships.
Top 10 US Subscription Streaming Video Services: 2023
1. Prime Video
2. Netflix
3. Hulu
4. Disney+
5. MAX
6. Paramount+
7. ESPN+
8. Peacock
9. Apple TV+
10. YouTube Premium
Parks Associates will share this and other relevant research at Future of Video, November 14-16 at the Marina del Rey Marriott in California. Future of Video, sponsored by Adeia, Bango, FPT Software, SymphonyAI Media, and AiBUY, features keynotes from AiBUY, ESPN, Hallmark Media, LG, Paramount, Google, Red Nation Television Network, Love Stories TV, Sling TV & DISH Network, and XUMO. The firm’s analysts will share insights based on their unmatched consumer and industry data, and industry speakers will address the strategic shifts for streaming services, including the role of discovery, new AI tools, and the challenge of operating in a market that includes a 50% annual churn rate.
“Streaming services are seeking a sustainable, profitable business model in the midst of incredible change,” said Jennifer Kent, VP, Research, Parks Associates. “For the first time, all three tech giants with notable streaming services – Amazon, Google, and Apple – made the top 10 top SVOD list, emphasizing the power of the new platform players. We expect prices to continue to rise and more aggregation and bundling as media giants stake out their role in the future of entertainment.”
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. https://www.parksassociates.com
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