Monday, June 11, 2018

50% of U.S. broadband households watch long-form online video content on an internet-connected TV set

Parks Associates and SeaChange to examine lifecycle of OTT video services in industry webcast

Parks Associates research finds nearly 40% of U.S. broadband households now have at least two OTT video service subscriptions. The research firm notes that consumers have reached a new stage in connected entertainment where OTT is a standard source of video and viewers are more willing to experiment with multiple OTT services. Parks Associates will examine this transition for OTT from disruptor to dominance in the industry webcast “The Lifecycle of OTT Video Services” on Tuesday, June 12, 10 a.m. CT. The webcast, sponsored by SeaChange, will assess the growth potential, strategies, and future for both existing and new video services.

“Every product or service has a natural market lifecycle that reflects the state of adoption, competition, and market development,” said Brett Sappington, Senior Director, Research, Parks Associates. “OTT video is no exception, with services evolving to keep up with a fast-moving market. Netflix, Amazon, Hulu, and other players have moved from simple subscription-based services to creators of award-winning original content such as House of Cards, Manchester by the Sea, and The Handmaid’s Tale. Understanding the lifecycle of OTT video services allows market participants to better position their offerings and market strategy both for today and for the future.”

Overall OTT Service Subscriptions (2013-2017) | Parks Associates

“Whether OTT is a friend or foe depends on whom you ask; however, there is consensus in the media and entertainment industry that OTT is the future of video,” said Marek Kie?czewski, Global VP of Engineering at SeaChange International. “The growing adoption of skinny bundles and D2C offerings is a clear indication that a ‘wait-and-see’ or ‘do-nothing’ strategy is extremely risky. With 25 years of video experience, SeaChange is helping service providers, network operators, and content owners bridge the OTT gap, know their viewers, and build sustainable business and monetization models.” 

During the webcast, Kielczewski andSappington will discuss three key takeaways:

  • The state of the lifecycle for OTT video in North America, Europe, and other parts of the world.
  • Go-to-market (GTM) strategies, innovative technologies, and business models that telecom, technology, and media companies are using to compete in this disrupted marketplace.
  • Effective approaches to grow an audience and ensure success of the video service through advanced merchandising and promotion.
     

According to Parks Associates research, 50% of U.S. broadband households watch long-form online video content on an internet-connected TV set. The international research firm also reveals:

  • 69% of U.S. BB HHs have an OTT subscription; 38% have two or more subscriptions.
  • Households that subscribe to three or more internet video services is one of the fastest growing segments in the U.S. OTT space, increasing from 10% of broadband households in 2016 to 15% in 2017.
  • In the past 30 days, nearly one-half of U.S. broadband households have accessed video content from a subscription OTT service; 31% accessed free content.
     

For more information and to register for the webcast, visit http://www.parksassociates.com/ottlifecycle-june2018. To speak with an analyst about this research, contact Julia Homier at julia.homier@parksassociates.com, 972-996-0214.

About Parks Associates: Parks Associates is an internationally recognized market research and consulting company specializing in emerging consumer technology products and services. Founded in 1986, Parks Associates creates research capital for companies ranging from Fortune 500 to small start-ups through market reports, primary studies, consumer research, custom research, workshops, executive conferences, and annual service subscriptions.

The company's expertise includes the Internet of Things (IoT), digital media and platforms, entertainment and gaming, home networks, Internet and television services, digital health, mobile applications and services, support services, consumer apps, advanced advertising, consumer electronics, energy management, and home control systems and security.

Each year, Parks Associates hosts industry webcasts, the CONNECTIONS™ Conference Series, Smart Energy Summit: Engaging the Consumer, and Connected Health Summit: Engaging Consumers.

http://www.parksassociates.com

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