OTTs Are Now Standard for Viewers

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by @todotvnews the 12/06/2018
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According to research from Parks Associates, nearly 40% of broadband households in the US are subscribed to two or more OTT platforms and use them regularly in the place of traditional viewing. 

It is the time of OTTs, and this is particularly true in the US. According to research from Parks Associates, nearly 40% of broadband households in the US are subscribed to two or more OTT platforms, while the rest are subscribed to at least one.

In addition, households that subscribe to three or more Internet video services is one of the fastest-growing segments in the US OTT arena, increasing from 10% of broadband households in 2016 to 15% in 2017.

This means that for the modern consumer, on-demand options have become a standard way of watching audiovisual content, strongly replacing linear broadcast, and offering them the chance to maximize their experience by mixing and matching multiple subscriptions.

And those streaming subscriptions are being used regularly. Almost half of US households with broadband have streamed video in the past 30 days, which means that more people have accessed paid content than free content in the past 30 days.

"Every product or service has a natural market lifecycle that reflects the state of adoption, competition, and market development," said Brett Sappington, Senior Director, Research, Parks Associates.

"OTT video is no exception, with services evolving to keep up with a fast-moving market," he added, pointing out that giants like Netflix, Amazon and Hulu have been shifting from just offering third party content to create their own groundbreaking series like House of Cards and The Handmaid's Tale in an effort to further compete with traditional players.

"Whether OTT is a friend or foe depends on whom you ask; however, there is consensus in the media and entertainment industry that OTT is the future of video," said Marek Kiełczewski, Global VP of Engineering at SeaChange International.

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