New industry report examines current and future market for OTT and TV Everywhere video services
Dallas, Texas, June 11, 2015 - New industry research from Parks Associates finds global OTT video service subscription revenues will increase from nearly $9 billion in 2014 to over $19 billion in 2019. Currently, 57% of U.S. broadband households subscribe to an OTT video service. Among European broadband households, 57% in the U.K., 29% in Spain, and 24% in Germany subscribe to an OTT service.
The industry report TV Everywhere and the New World of OTT also finds that in 2015, approximately 7% of all U.S. households, or 8.4 million households, subscribe to broadband and at least one OTT video service but do not subscribe to pay TV. This figure includes consumers who have discontinued pay-TV service and those who have never subscribed to pay TV. In other Western nations, this same figure is approximately 4% or less among all households. Operators are introducing their own OTT services to appeal to consumers who are not currently taking pay TV.
"The OTT video services marketplace continues its rapid rate of change, impacting the video ecosystem across world markets," said Brett Sappington, Director of Research, Parks Associates.
"While operator attempts at TV Everywhere have made little impact, OTT video services are experiencing a boom. A variety of new players are entering the market, and operators including DISH Networks, Rogers Communication, Bell Canada, and Sky are responding with OTT video services of their own. How the industry responds to this change will ultimately affect the fundamental structure of the video industry for years to come."
The Parks Associates OTT report examines the current and future market environment for video services that provide consumers with access to TV and programming via Internet-connected devices. It examines the relationship between TV Everywhere and OTT services, consumer demand and habits, business models, emerging services, threats, success factors, and future growth.
"Avid video consumers are still taking pay-TV services if they can afford them. However, companies in the video ecosystem are eager to reach those consumers who are currently falling through the pay-TV cracks," Sappington said.
TV Everywhere and the New World of OTT is available for purchase at www.parksassociates.com. To schedule an interview with Brett Sappington or to request specific research data, please contact Holly Sprague at firstname.lastname@example.org.
About Parks Associates
Parks Associates is an internationally recognized market research and consulting company specializing in emerging consumer technology products and services. Founded in 1986, Parks Associates creates research capital for companies ranging from Fortune 500 to small start-ups through market reports, primary studies, consumer research, custom research, workshops, executive conferences, and annual service subscriptions.
The company's expertise includes the Internet of Things (IoT), digital media and platforms, entertainment and gaming, home networks, Internet and television services, digital health, mobile applications and services, support services, consumer apps, advanced advertising, consumer electronics, energy management, and home control systems and security.
Each year, Parks Associates hosts industry webcasts, the CONNECTIONS™ Conference Series, Smart Energy Summit: Engaging the Consumer, and Connected Health Summit: Engaging Consumers.