The average US household spend on OTT services has doubled in two years.
According to Parks Associates, US broadband households spent an average of US$16 per month on OTT services in early 2020, double what they spent in 2018. Spend was largely flat between 2014-18, with the average amount being spent fluctuating between US$6-8. It was only in 2019 when there was a massive surge in OTT spend, jumping up to US$14 per month.
The research firm also found that 45% of households with traditional pay TV said that they are likely to switch to a virtual multichannel video programming distributor (vMVPD) in the next 12 months.
Paul Erickson, senior analyst, Parks Associates, said: “Today’s video services market is in a historic state of disruption and disarray. Our Q3 2020 survey finds 29% of current subscribers to traditional pay TV are unhappy with the price and value of their service, and vMVPDs are seeking to address that need with a variety of different bundles and value propositions.”
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