Published December 6th, 2017
More than 50% of US OTT subscription households subscribe to multiple OTT video services, according to Parks Associates.
Of these multi-OTT households, 81% use Netflix plus some other service or combination of services, typically Amazon or Hulu.
“Not only are more households subscribing to OTT video services than ever before, but also the average number of subscriptions per household is increasing as well. The OTT video pie getting bigger, and it is getting deeper as well,” said Brett Sappington, senior director of research, Parks Associates.
“What we are seeing is consumers adding to the number of sources that they use to access interesting content. This growth is critical. It means that video services do not necessarily have to displace a Netflix or other large service in order to gain market share. Services can potentially find success as a complementary offering as well.”
“A common assumption is that consumers who pay for multiple subscription OTT video services would not need to, or have time to, use free OTT video service options. Yet, we find the opposite to be the case. Only 30% of households subscribing to one subscription service use at least one free, ad-supported online video service,” Sappington said.
“That number jumps to 47% of households subscribing to three subscription services and 63% if a household subscribes to five or more services.”
Parks Associates’ OTT Video Market Tracker has research services for North America and Europe to track the content offerings, business strategies, and subscription numbers for OTT services in these regions. Additional data from these services include: with the exception of Netflix and Amazon Prime, OTT services are experiencing churn rates exceeding 50% of their subscriber base. 69% of US broadband households subscribe to at least one OTT video service (3Q 2017). More than 50% of US broadband households that use OTT services subscribe to multiple OTT video services, compared to 20% in 2014.
Source: Broadband TV News
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In an annual contest at Coney Island, participants vie to see who can eat the most hot dogs in 10 minutes. It has seemed in recent years that US adults bring a similar spirit to their consumption of media, cramming as much as possible into an average day.
Thanks to multitasking (and our method of accounting for it, explained in a moment), US adults’ average daily time spent with major media will slightly exceed 12 hours this year, according to eMarketer’s latest report, “US Time Spent with Media: eMarketer’s Updated Estimates and Forecast for 2014-2019”.