Cord cutting is picking up more steam as people ditch cable over OTT services. With such a large variety of options, it is possible to sign up for dozens of streaming services to replace broadcast television contracts as just about everything is available on some platform. But what about the number of streaming services a household signs up for and for how long?
Parks Associates is a marketing research firm that has built a name for itself as the leading authority for emerging consumer tech. Recent reports from Park Associates found that 37 percent of households subscribe to OTT services through a cable provider. The turnover rate for OTT video services has been 47 percent for quite some time now.
“There is so much to talk about – direct subscription has been losing ground to aggregation, and bundling is becoming more important,” said Jennifer Kent, VP, Research, Parks Associates.
Park Associates’ findings show that out of all U.S. households who subscribe to OTT services, most households subscribe to streaming platforms directly through the service’s app or website. Aggregator platforms take second place, followed by home services and telco bundles. Other entertainment services take up a significantly smaller percentage of users.
The marketing research firm hosts a number of virtual events throughout the year dedicated to exploring share insights from industry leaders into market conditions. This provides an in-depth look at how trends are changing the entertainment field and how different platforms can stay in the running as a go-to service.
“We are excited to announce our in-person event and focus on new advertising models in our upcoming June virtual session. We encourage industry players to submit to speak and join us for these important conversations,” says Kent.
Parks Associates will be hosting its sixth annual Future of Video conference in Marina del Rey, California later this year from November 14th to November 16th.