ADDISON, Texas—Online video continues to grow in popularity, as a recent Parks Associates’ study shows that the amount of time spent watching online video per week has doubled since 2017.
The study, “Set-Top Box Innovations and Trends,” shows that viewers are currently watching nearly seven hours of online video per week; in 2017 the number was 3.6 hours per week.
Other findings of note in the Parks study includes that traditional pay-TV services have declined from an adoption rate of 75% in Q1 2017 to 62% in Q1 2020 among U.S. broadband households. Conversely, OTT continues to gain in popularity—74% of households have at least one OTT service and nearly half have two or more.
Parks Associates says that this increase in OTT allows households to access premium content without a set-top box, causing a change in the relationship between set-top box makers and cable/satellite operators.
“The set-top box does have a role in this market, but it will have to adapt,” said Dr. Kenneth Wacks, contributing analyst at Parks Associates.
For more information, visit www.parksassociates.com.
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