76% OF U.S BROADBAND HOUSEHOLDS ARE SUBSCRIBED TO OTT SERVICES

New research from international research firm, Parks Associates reveals an increase in streaming video viewership during the COVID-19 outbreak, with roughly six million new US broadband households subscribed to an OTT service since 1Q 2019, making it 76% of US broadband households who are subscribed to an OTT service. The firm has been tracking changes in streaming video viewership during the COVID-19 outbreak using their landmark service, the OTT Video Market Tracker. “We anticipate a number of changes to occur, including higher consumption combined with reduced spending per month on services, which could boost ad-based services, as well as shifts in what content consumers are watching,” said Steve Nason, Research Director, Parks Associates.

Among the new data that’s been collected from Reelgood, aside from its 4.8 million OTT users, is an indication that from 16 March to 26 April, viewers displayed significant shifts in preferred genres and shows, particularly a shift to the comedy genre after stay-at-home order began to take place. Parks Associates research also finds that the adoption of online pay-TV services including YouTube TV, Hulu with Live TV, and Sling TV has increased to 12% of US broadband households. 

The firm tracks the OTT video industry closely using the OTT Video Marker Tracker and quarterly consumer surveys. “The entertainment businesses who thrive during the COVID and post-COVID eras will be the ones who can cater their offerings to accommodate the huge appetite for streaming kids content,” said Catharine Burhenne, Head of Marketing at Reelgood. “Tubi’s launch of their app, Tubi Kids is an example of businesses capitalizing on this opportunity.”

According to the data, the most popular movies between 16 March and 26 April were “Parasite,” “Ozark,” “Money Heist,” and “Tiger King,” with “Parasite” taking the lead. All of the movies are available on Netflix. Preferred genres included Comedy, Faith, Spirituality, and Children,  increased viewer share. Genres such as Horror, War, and Crime declined slightly. The show, “Doctor Foster” and the movie “The Silver Linings Playbook” had the most significant jumps in popularity from pre-COVID (17 February to 15 March) to post-COVID (16 March to 26 April).