Parks Associates has released new research at CES regarding consumer attitudes on connected entertainment and technology. By using quarterly surveys of 10,000 broadband households, the firm has found that 41% of US broadband households have a streaming media player.
During the third quarter of 2019, Parks’ research showed that 39% of households had a streaming media player, and by the Q3 of 2020, that number increased to 43%. However, the study has shown that year-over-year consumers are using more connected devices on average. This year’s study showed that the average U.S. household has 14.5 total connected devices, which continues to grow each year.
“Streaming video consumption and the devices that enable it are fixtures of modern life,” said Paul Erickson, Director of Research, Parks Associates. “Consumers are increasingly willing to spend for better entertainment experiences at home, and they now see greater tangible value in the content, services, and devices that maximize the quality of their home audio and visual experiences.”
Other takeaways from the study:
- 41% of US broadband households have a streaming media player
- 38% US broadband households have a gaming console
- 36% of US broadband households subscribe to or are trialing a video gaming service
- 31% of US broadband households or 30+ million households use free ad-based OTT services
- 50% of Cord-Cutters cite the high cost of traditional pay-TV services as the reason to cancel the service
Last month, Park Associates released a study showing that 49% of US broadband households have 4 or more OTT service subscriptions, which shows the popularity that cord cutting has had over the last few years. Other research has shown that during the third quarter of 2021,14.2 million people in the U.S. subscribed to a virtual multichannel video programming distributor (vMVPD). If these trends continue then cord cutters may end up as the main TV consumers by the end of the year.