November 12, 2021
The use of internet-connected televisions in the home continues to grow, with 56% of U.S. broadband homes now using smart-TVs, according to new data from Parks Associates. Smart speakers/display penetration reached 53%.
Dallas-based Parks found that 82% of domestic broadband households subscribe to at least one over-the-top video service, up 6%, while 58% of households subscribe to a traditional pay-TV service, down 4% year-over-year.
“2021 has been a challenging year for consumers and businesses. While supply chain issues continue to be a concern, there is slow but steady growth in the smart home industry,” Elizabeth Parks said in a statement.
Parks said the percentage of domestic broadband households with standalone broadband service increased from 33% in Q1 2018 to 41% in Q1 2021, following the declining popularity of pay-TV bundles. Consumers pay $64 per month on average for standalone broadband service, up from $39 per broadband household in 2011, a 64% growth rate.
“Traditional and disruptive players continue to introduce new products, grow partnerships, and add features to expand offerings,” Parks said. “Privacy issues continue to be in the forefront of consumers’ minds as well as the ability of products to work together and with a unified app.”