#United States #California #Parks Associates #Streaming #Future of Video

Streaming Subscriptions Surge in the U.S.

According to a recent announcement by Parks Associates, streaming subscriptions have reached unprecedented levels in the United States, with 91% of internet-connected households subscribing to at least one video streaming service. This figure highlights a significant trend towards digital-first platforms, departing from traditional pay-TV models.

The upcoming event, the Future of Video: Business of Streaming, scheduled to take place from November 18-20 at the Marina del Rey Marriott in California, will delve into these developments. It will feature the release of the S.O.S. State of Streaming report, which examines the factors driving this massive shift from legacy pay-TV systems to streaming alternatives.

Consumer Trends and Spending Patterns

With the average household subscribing to nearly six video services and spending approximately $109 monthly, the streaming video market now constitutes a staggering $147 billion annual economy. This growth is not just a matter of replacing pay-TV with streaming; it reflects a new paradigm where hybrid monetization models are becoming the norm. In addition to enhanced access to content, users are now increasingly engaged through interactive features and advertising opportunities, contributing to profitability in the streaming landscape.

Keynote Speakers and Insights

The Future of Video event will host a lineup of prominent figures from the streaming industry, offering insights into the evolving market dynamics. Notable speakers include Scott Barton from Charter Communications and Dave Bernath from Wurl, alongside other industry leaders. Jennifer Kent, VP of Research at Parks Associates, will provide a keynote, emphasizing that the definition of streaming has shifted beyond simple content access. Now, it's entwined with consumer experience and engagement, making the television a connected platform that facilitates advertising and transactional opportunities in one unified experience.

Report Highlights

During the event, the S.O.S. report will be distributed to attendees. It will analyze the transforming dynamics in the pay-TV and streaming sectors, particularly focusing on how changing consumer preferences, technological advancements, and innovative service offerings are reshaping the home entertainment landscape. The report is expected to shed light on critical factors such as consumer adoption rates, churn, spending patterns, and emerging content formats.

Opportunities and Challenges

While this rapid growth in streaming subscriptions marks a triumphant shift, it also poses challenges for traditional pay-TV providers. They must adapt to this new landscape where competition is fierce, and consumer loyalty is often fleeting. Successful deployment strategies for over-the-top (OTT) services are more crucial than ever, as brands navigate the intricate balance between offering compelling content and ensuring profitability.

The Future of Video event serves as a vital platform for industry players to share insights, address challenges faced by both streaming services and pay-TV providers, and discuss the impact of connected devices on video consumption. Registration is open for media and industry professionals, allowing them to gain firsthand understanding from the discussions and presentations.

As streaming continues to dominate the home entertainment market, the Future of Video: Business of Streaming will be a crucial event for understanding its trajectory. Equally, it will provide a unique opportunity for industry stakeholders to strategize and respond to the increasingly complex landscape of video services.

For further inquiries or an analyst interview, interested parties are encouraged to contact Mindi Sue Sternblitz-Rubenstein at Parks Associates.