Monday, September 13, 2021

More than 50% of households now combine a Big 3 service with at least one other subscription OTT service

Brightcove, Revry, and Washington Post share insights on attracting and retaining new video services subscribers and the role of niche services 

Consumer data from Parks Associates reveals 54% of US broadband households now combine one of the Big 3, Netflix, Amazon, and Hulu, with at least one other subscription OTT service. In partnership with Brightcove, Parks Associates is presenting its latest consumer research during the industry webinar “OTT Customer Acquisition: Opportunities and Challenges” tomorrow, September 14, 1 pm CT US (2:00 pm ET).

Currently, 82% of US broadband households subscribe to an OTT service, and OTT service stacking has grown exponentially as new services such as Paramount+ emerge with low price points. As cord cutters migrate away from traditional pay TV, they seek service offerings that more closely meet their video content needs, with the added value of lower cost and flexible use cases. Parks Associates research notes cord cutters used to spend $117 per month on pay-TV services and are now paying $85 per month for OTT services.

The webinar explores engagement strategies for companies to differentiate themselves from the competition and ensure successful delivery of services, providing the most optimal experience.

"It's a crowded market, and households continue to diversify their subscriptions," said Elizabeth Parks, President, Parks Associates. ”Delivering relevant content with excellent personalized experiences is a key focal point to stay competitive.”

In this webinar, industry experts address the changing dynamics in the OTT marketplace, including the best strategies to identify, acquire, and engage their customers and increase market share. Webinar speakers:

 

“Subscription fatigue and ad intolerance are pervasive in the streaming industry, and consumers are becoming more selective about where they spend their time and money,” said Lexie Knauer, Senior Product Marketing Manager, Brightcove. “It’s important for streaming services to go to market with a strong acquisition strategy to clearly promote the value of their content across the right channels and ultimately capture their target audience.”

“To me, customers are stating no one service can be everything to everyone,” said Michael Ribero, Chief Subscription Officer, The Washington Post. “I think this helps services with a clear identity while others will need to clarify how they fit into the customer’s bundle. And I believe this has downstream ramifications especially for discovering new shows and content.”

Register at www.parksassociates.com/ott-acquisition-2021. To request data or an interview, contact Rosey Ulpino at rosey@parksassociates.com, 972.996.0233.

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

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