The streaming landscape is increasingly defined by conglomerates that leverage multiple business models to capture diverse audiences. Giants like Google, Amazon, and Disney now reach more than half of U.S. internet households, driven by a mix of premium SVOD subscriptions, ad-supported FAST channels, and vMVPD offerings that replicate the traditional pay-TV bundle. 

Rather than relying on a single flagship service, these companies are broadening their reach by meeting consumers wherever they are, whether it’s live TV through Hulu + Live TV or YouTube TV, on-demand originals through Prime Video or Disney+, or free ad-supported viewing through Pluto TV.

At the same time, Parks Associates research highlights the challenges for mid-tier brands that lack the same portfolio depth. Discovery+ and Max, despite significant investment in content libraries, show stagnant adoption hovering in the 30–40% range. AMC Networks and other niche players remain under 15%, reflecting the limits of narrow appeal and weaker cross-promotion potential. Without the ability to bundle or scale across multiple formats, these providers face a ceiling in household penetration and risk being overshadowed by larger players offering more flexible pathways into their ecosystems.

For both consumers and advertisers, the rise of mixed-model strategies is reshaping how value is defined in streaming. Consumers now navigate a fragmented streaming world where each service plays a distinct role. Premium subscriptions deliver prestige content, FAST platforms offer casual free viewing, and live TV bundles step in as cable replacements. Advertisers, in turn, must spread budgets across a patchwork of platforms to find audiences that no longer cluster in a single channel. 

This diversification signals a maturing industry: as households balance cost, convenience, and content, and as advertisers chase reach across fragmented environments, the winners will be those companies that can seamlessly connect multiple assets into a cohesive, scalable offering.

For more information about Parks Associates research, visit www.parksassociates.com.  

Parks Associates will host Future of Video 2025 at the Marina del Ray Marriott, Tuesday, Nov 18 – Thursday, Nov 20. Future of Video brings together senior leaders to share insights on new trends in the video and connected entertainment industries, with insights on consumer adoption, churn, and spending. The event provides insight into successful OTT strategy deployments, challenges for pay-TV providers, the role of connected CE in the growth of video viewing, new content formats, and the overall impact to the video market.