LOS ANGELES—Despite the rapid growth of streaming media in recent years, the sector still seems to have plenty of headroom for new growth in 2021, according to new research by Interpret. It found that half of consumers who plan to purchase a smart TV or a streaming media player within the next three months will be first-time buyers.
The remainder are existing owners who are replacing their streaming device, upgrading to a newer version, or switching to a new brand.
“With half of buyers being new to smart TVs and streaming media players, this sector of consumer electronics is primed for continued growth,” said Brett Sappington, Interpret’s vice president of research. “However, not all streaming device brands will enjoy the full benefit of that growth. Our research shows that each brand attracts a unique consumer audience, with differing characteristics, habits, and preferences that are often related to key features. Those brands that best meet consumers’ needs stand the best chance of gaining market share.”
According to Interpret’s “Streaming Devices: Platforms, Brands, and Consumers 2021” report, 10% of consumers plan to buy a smart TV and a similar number plan a streaming media player purchase within the next quarter.
Samsung and Vizio owners are the least likely to replace their smart TV, and Roku owners are the least likely to want to replace their streaming media player.
The survey found that 18% of Roku owners, 17% of Samsung owners, and 18% of Vizio owners plan to replace their device within the next three months.
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