The over-the-top juggernaut rolls on especially in the US where, says analyst Parks Associates, a surging second-tier OTT sector has taken the number of available services past the two hundred mark.
Overall globally, Parks calculates that there are more than 265 million households worldwide and that there will be more than 400 million OTT video service subscriptions by 2022. While Netflix, Amazon Prime Video, and Hulu remain the industry leaders in the US, the analyst noted a string of second-tier of services emerging, led by recognised TV brands such as HBO Now, DIRECTV NOW, Starz, Showtime, and CBS All Access.
Attributing reasons for the rise, Parks says that in this current environment, services are adapting their marketing plans, content mix, and the consumer experience in ways to foster greater attraction and retention of customers. It adds that the effectiveness of their actions can be reflected in the perception of these services, both among their own customers and in the market overall.
That said, Parks Associates cautioned that the limited amounts of high quality content still hinder OTT video services from taking a greater share of pay-TV subscribers than they currently do. It says that this finding suggests there remains opportunities for OTT services to capture leading positions for particular content genres.
Attributing reasons for the rise, Parks says that in this current environment, services are adapting their marketing plans, content mix, and the consumer experience in ways to foster greater attraction and retention of customers. It adds that the effectiveness of their actions can be reflected in the perception of these services, both among their own customers and in the market overall.
That said, Parks Associates cautioned that the limited amounts of high quality content still hinder OTT video services from taking a greater share of pay-TV subscribers than they currently do. It says that this finding suggests there remains opportunities for OTT services to capture leading positions for particular content genres.
