Today the research firm Parks Associates released new information from their OTT Video Market Tracker online service. The firm tracks 354 independent OTT (over-the-top) services in The United States in 2022, 87% of households with US internet have at least one OTT subscription service, like Paramount+, Peacock, Disney+, and more.
With the increase of people choosing to subscribe to more streaming services, more and more partnerships are being made between platforms, such as Comscore and Tubi announcing their newest expansion together and HBO Max and Discovery+ working to replicate cable TV bundles.
“We are excited to show off our new tool to help the industry track the disruptive streaming market,” Jennifer Kent, Vice President of Research at Parks Associates enthusiastically states. Below are Parks Associates’ OTT video and entertainment data:
- 40% of US internet households share or use shared credentials, up from 27% in 2019.
- 63% of US internet households own a smart TV.
- Nearly half of OTT subscribers hop between services multiple times over a 12-month period.
- 48% of subscribers cited content or a specific program as the primary motivation to subscribe to a new service.
The number of households using subscription services is steadily increasing as the desire to have cable is falling dramatically. As of a September 2022 study, 113 million households across the United States pay for access to one or more streaming services. Thanks to the newest press release from Parks Associates, we know that this number has remained steady since and is projected to increase in the coming years.