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.
This story was originally published by Next TV sibling publication TV Technology.
