A new data base released by Parks Associates found that the number of hours consumers spend watching online video per week has nearly doubled from 3.6 hours in 2017 to almost 7 hours in 2020 . Dallas-based Parks said at the same time traditional pay-TV service has declined from an adoption rate of 75% to 62% in U.S. broadband households between Q1 2017 and Q1 2020, which led a subsequent decline in set-top box adoption.
Read MoreTV viewing habits are shifting from linear TV to online TV, which is accelerating the video streaming market. While subscriptions are dominating the OTT market, the live streaming market is advancing as the demand for sports and other live programming continues to grow. For superior user experience, especially in the live streaming segment, low latency streaming is becoming essential. ABI Research forecasts that live video streaming is expected to grow at a combined annual growth rate (CAGR) of 10% to a 91 million subscriber base in 2024.
Read MoreParks Associates research finds that the percentage of households with multiple OTT subscriptions has increased by 130% since 2014. In 2019, forty-six percent of US broadband households subscribe to two or more OTT services. According to a new report, “Partnering, Aggregation, and Bundling in Video Services” only 33% subscribed to multiple services in early 2017 and 20% in 2014.
Read MoreOver-the-top (OTT) video and pay-TV research from Parks Associates shows that consumer perception of a poor value proposition in pay TV remains the top trigger for changing, downgrading, or cancelling services.
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