June 9, 2021
With a slew of new and re-imagined streaming video services on the market in the past year, high-speed internet households are embracing the choices.
New data from Parks Associates’ Q1 2021 survey of 10,000 broadband households found that 46% of respondents subscribe to four or more OTT services, and 82% of respondents have at least one SVOD subscription, compared with 76% in Q1 2020.
“New services are employing a variety of growth strategies, including external partnerships to expand their reach and market footprint and augmentations to their offerings to grow share and increase retention,” Elizabeth Parks, president of Parks Associates, said in a statement.
“With OTT adoption so high, providers are exploring new strategies, including expanded IP and AI-powered enhancements, to stay competitive,” added research director Steve Nason.