Netflix topped the list of Parks Associates’ 2021 top 10 U.S. paid subscription over-the-top (OTT) video services.
The list is based on estimated numbers of subscribers through September 2021 from the firm’s OTT Video Market Tracker.
The 2021 list shows the first change in the top three services since the firm started tracking the providers in 2015. Disney+ has moved into the top three, moving ahead of Hulu in number of subscribers. HBO Max moved into the top five, while Paramount+ (rebranded from CBS All Access) jumped to number seven on the list. New entrant Discovery+ is right behind at 11.
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Parks Associates’ 2021 Top 10 U.S. Subscription OTT Video Services (SVOD):
- Prime Video
- HBO Max
- Apple TV+
The research firm reports that, based on quarterly surveys of 10,000 U.S. broadband households, more than 80% of broadband households have at least one OTT service and that the churn rate for OTT services is 44%, with consumers adopting multiple subscriptions and experimenting with different services.
“While the Disney+ content portfolio may have allowed it to leapfrog stablemate Hulu in 2021 rankings, its position reaffirms the collective power of the Disney Bundle triumvirate: Hulu, Disney+ and ESPN+,” Paul Erickson, director of research of Parks Associates, said in a statement. “ViacomCBS’s successful rebrand and content-fueled reformulation of CBS All Access into Paramount+ have allowed it to leapfrog Apple TV+ into seventh place behind ESPN+, and time will tell if the service will break into the top five.”
“Broadband providers added an estimated 6.4 million residential customers to date in 2021, showing rapid growth,” Kristen Hanich, director of research at Parks Associates, said in a statement. “The importance of bundling pay-TV with home broadband is diminishing though — our Home Services Dashboard finds that only 38% of U.S. broadband households bundle pay-TV with their home internet service, a significant decline from past levels.”
The role of online TV continues to grow, with consumers embracing OTT services offered by familiar providers, according to Parks.
“In Q3 2021, 19% of U.S. broadband households reported subscribing to a vMVPD service, nearly double from the previous year,” Eric Sorensen, contributing senior analyst at Parks Associates, said in a statement. “By 2024, the U.S. vMVPD subscriber base will increase to more than 23 million households. All players will continue vying for the leading positions.”