DALLAS—Parks Associates has released new data showing just how far the dramatic shift to streaming services has gone in recent years. Currently, more than nine in 10 (91%) of U.S. internet households subscribe to at least one streaming video service, while traditional pay TV has declined to 41% of households, according to Parks.
Parks’ new “S.O.S. State of Streaming” report, to be released later this month at its eighth annual Future of Video: Business of Streaming conference, also shows that consumers take an average of nearly six video subscriptions and spend about $109 per month. The video services market now represents a $147 billion annual economy in the U.S., Parks estimates.
‘“Streaming is no longer just about content access—it's about experience, engagement, and profitability,” Parks Vice President of Research Jennifer Kent said. “The lines between streaming, broadband and commerce are blurring. The television has become a connected platform—one that unites content, advertising, and transaction opportunities in a single experience.”
Parks will host the 8th annual Future of Video conference on Nov. 18-20 at the Marina Del Rey Marriot in Marina Del Rey, Calif. More information on the event and speakers is available at www.futureofvideo.us.
