Households Show Consistent Spending on OTT Service Subscriptions
According to OTT video research from Parks Associates, the average amount households are spending on OTT streaming service subscriptions has remained steady since 2016.
Households are spending an average of just under $8 per month, showing that while some consumers are subscribing to multiple services, that number is offset by many consumers who subscribe to one or two inexpensive services or no services at all. Parks Associates expects this trend to faulter in 2019 as popular services such as Netflix, Hulu and Amazon continue to gain subscribers and new services emerge. Parks Associates expects three possible outcomes from the growing competition in streaming video:
- More households will become OTT streaming households.
- Subscribers will transition away from major services like Netflix for new services.
- Overall average household spending on OTT services will go up.
For additional information from Parks Associates, click here.