23% of US households subscribe to nine or more OTT subscriptions

Parks Associates has released its updated list of the top 10 US subscription over-the-top (OTT) video services, based on estimated numbers of subscribers through September 2022 from the firm’s OTT Video Market Tracker. The research firm reports that 83% of broadband households have at least one OTT service, with 23% adopting nine or more OTT subscriptions.

Parks Associates notes that the Top 10 US Subscription OTT Video Services is the first instance in this annual report that Netflix is not in the top spot. The firm’s research shows Prime Video has surpassed Netflix in the number of paid subscribers. Also, Peacock entered the top 10 list for the first time in 2022, while Showtime moved off the list. 

The research firm will share this and other relevant research at Future of Video, December 12-14 at the Marina del Rey Marriott in California. The conference features the following keynotes:

• Scott Barton, Chief Product Officer, MyBundle.TV
• Domenic DiMeglio, CMO, Paramount Streaming
• Nandhu Nandhakumar & Chair, Ultra HD Forum; SVP, Strategic Technologies, LG Electronics-Zenith R&D
• Katherine Pond, Group VP, Platform Content and Partnerships, VIZIO
• Daniel Rausch, VP, Entertainment Devices & Services, Amazon

“Streaming services are introducing new content, services, and partnerships that are changing how consumers interact with video,” said Jennifer Kent, VP, Research, Parks Associates. “Netflix’s ad-supported plan gives the company a way to win back subscribers who left over high subscription prices. It also gives Netflix a path to creating unique accounts for those who have been content to share passwords with friends and family in the past. It’s an exciting time to track these services, with lots of disruption and change.”

“Amazon Prime Video is growing on the strength of Amazon Prime overall. We saw in Q3 that consumer spending was beginning to slow, with consumers beginning to re-evaluate their subscriptions, said Kristen Hanich, Research Director, Parks Associates "Netflix was forced to pivot into an ad-supported tier to account for this. Prime by contrast is more diversified, offering a wider arrangement of benefits for subscribers, primarily free shipping – which is a strong benefit for the holiday shopping season. Prime Day additionally fell into the third quarter, which helped to maintain growth.”

“In terms of overall content, Prime Video added new content in the third quarter, including the new Lord of the Rings: The Rings of Power series and exclusive access to the NFL’s Thursday Night Football. Rings of Power attracted high viewership numbers on its premier, with 25M global viewers recorded on its first day, ” said Hanich.

Parks Associates has released its Top 10 US Subscription OTT Video Services list since 2015.

About Parks Associates: Parks Associates, a woman-owned and woman-led internationally recognized market research and consulting company, specializes in emerging technology solutions serving the consumer and small to medium business (SMB) markets. Celebrating its 35th year in 2021, Parks Associates is a partner to companies navigating the changing consumer technology landscapes through data-driven market insights, extensive consumer and industry intelligence, custom marketing services, and executive networking experiences and conferences.

The company's expertise includes home automation, control systems and security, digital media and platforms, entertainment and gaming, home networks, internet and video services, connected health and independent living solutions, mobile applications and services, support services, consumer electronics, and energy management solutions.

Each year, Parks Associates hosts industry webcasts, the CONNECTIONS™ Conference Series, Connected Health Summit, Smart Energy Summit: Engaging the Consumer, and Future of Video: OTT, Pay TV, and Digital Media. http://www.parksassociates.com

If you enjoyed this article, be sure to subscribe to the Connected Consumer newsletter on LinkedIn: https://www.linkedin.com/newsletters/the-connected-consumer-6876368780553990144/