broadband households have an internet-connected CE and 55% have an OTT service subscription, according to Parks Associates.
The connected TV area is poised for strong growth especially following HBO’s announcement that it will launch a stand-alone HBO Go service.
“The HBO OTT service announcement should not really be a surprise given the overall trends in the video service space,” said Brett Sappington, director, research, Parks Associates.
“HBO has been aggressive in the online space for some time, first testing a direct-to-consumer approach in Europe through HBO Nordic, its OTT video service offering. Competition in this space is set to increase massively as pay-TV providers, broadcasters, cable networks, and other content producers introduce new OTT services. In our research reports, we analyze the impact of these current and future moves, plus the trends revealed in our consumer data, to provide the best strategic guidance to service providers, content owners, and retailers in this space.”
“More than 75% of streaming media player owners have an OTT subscription,” said Barbara Kraus, director, research, Parks Associates.
“The high connection rate for all streaming devices highlights the high level of competition for all players in the industry. Video consumption on connected CE, smartphones, and tablets is increasing, with broadband consumers now averaging more than nine hours per week of consumption on these connected platforms. The market trends and consumer analysis featured in Parks Associates reports will help companies develop strategies to attract and retain the attention of these customers.”