A recent study from Parks Associates shows that 67% of US households with broadband also own and use at least one internet-connected streaming device, whether that’s a Smart TV, gaming console, media player, DVR, etc. The most frequently used device is a Smart TV, according to the research.
Smart TV’s aren’t something the general user buys or replaces regularly. How often do you go out and pick up a new TV to replace your old one? Probably not more than every couple of years or more for the general consumer. That slow turn over is steering manufacturers to consider new options for creating recurring revenue, like software and service subscriptions, bundling hardware with content, and open ecosystems.
“The connected entertainment space is moving towards a smartphone model, in which a handful of platform players control the operating system, UX, and consumer access to services and features,” said Kristen Hanich, Senior Analyst, Parks Associates. “These platform players stand to win big as consumers increasingly choose to sign up for their OTT service subscriptions through storefronts like Amazon Prime Video Channels, Apple TV Channels, or Roku Channel Premium Subscriptions.”
It’s true that more and more consumers are making the switch to cord cutting instead of paying for traditional TV options. Last year alone, 6.4 million Americans chose to cut the cord and switch from their pay-TV service to streaming. Streaming services and broadcast TV accessed with an antenna are both on the rise.
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