Parks Associates’ OTT Video Tracker identifies consumer adoption of multiple OTT service subscriptions as key to future growth

New video research from Parks Associatesfinds more than 85% of millennials in U.S. broadband households subscribe to at least one OTT video service. This research comes from Parks Associates’ OTT Video Market Tracker, which includes an exhaustive analysis of market trends and profiles of OTT video service providers in the U.S. and Canada, such as Netflix, HBO, YouTube, and Amazon. The Tracker features a new way to blend company profiles with industry research data and analysis of competing players’ strengths and weaknesses in the space.

“Overall penetration of subscription OTT video services among millennials has topped out, suggesting that those households that want such a subscription already have one or more. The more interesting and important question is how many subscriptions they will keep,” said Brett Sappington, Senior Director of Research, Parks Associates. “More than one-fourth of millennials subscribe to three or more OTT services, and more than 50% subscribe to at least two.”

Number of OTT Video Service Subscriptions | Parks Associates

The trend is also visible, though less pronounced, among the other generations as well. OTT service penetration among Baby Boomers and older generations grew more than 10% between the two groups as a whole from 2016 to 2017.

“For consumers, self-aggregating content is simply part of the entertainment experience, particularly millennial households,” said Hunter Sappington, Researcher, Parks Associates. “Their evaluation criteria for services, and brand loyalty, differs from that of previous generations. To take advantage of this self-aggregation trend, providers need to understand the evaluation criteria consumers use for their OTT services, which can vary from household to household.”

Parks Associates will examine the connected entertainment marketplace and current consumer data on OTT video services at the inaugural Future of Video: OTT, Pay TV, and Digital Media on December 10-12 in Marina del Rey, California. More information is available at www.fov2018.com. The conference advisory board includes executives from 605, Discovery, Hulu, LG Electronics, TiVo, and Viacom International.

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

  • Comprehensive tracking of the OTT video services industry
  • Identification of new OTT video service players
  • Changes among existing OTT players
  • Current updates and insights into industry trends and disruption
     

For information about Parks Associates, visit www.parksassociates.com. To schedule an interview with an analyst, contact Julia Homier at julia.homier@parksassociates.com, 972-996-0214.

About Parks Associates

Parks Associates is a global research, consulting, and marketing firm with 40 years of experience delivering proprietary consumer data and industry insights for businesses. The firm produces market research reports, forecasts, surveys, and competitive business intelligence on connected consumer, small business, and commercial technologies and related business solutions. Parks Associates provides custom research, strategic consulting, and forward-looking analysis across connected home, small business, and commercial markets, including security, smart home, broadband, entertainment, energy, multifamily, smart buildings, connected health, and emerging AI-driven technologies.

Parks Associates supports industry growth through proprietary research, consulting, and executive networking and convenes thousands of leaders each year through its flagship conferences, including CONNECTIONS™, Connected Health Summit, Smart Energy Summit, Smart Spaces, and Future of Video. Learn more at https://www.parksassociates.com.

Follow Parks Associates on LinkedIn, Facebook, and Instagram.