|By Carlos Pierce,|
the number ofOTT subscriptions In the United States it is expected to grow from nearly 230 million in 2021 to more than 277 million in 2026, an increase of more than 20% in five years.
The Parks Associates study also found that 80% of Millennials and Generation Zers say they watch videos on multiple platforms at least once a month. It also appears that in the first quarter of 2021, the average OTT subscription in broadband households in the US was about two and a half years old and had a very strong correlation with age – subscription periods for younger consumers are much shorter than for older consumers. Older consumers sign up for fewer services but hold on to them for longer. In turn, younger consumers can sign up for more services, but are more likely to use them.
Additionally, the competitiveness between OTT video and other forms of entertainment will continue to increase, with more consumer time spent socializing, in person, at leisure, holidays and events. Brands can leverage new engagement data to help design new services, improve customer support and retention strategies, and deliver value to consumers at home on different platforms and on the go. , refers to the report.
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