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23% millennials are OTT-only broadband homes

Parks Associates research finds that 23 per cent of millennial heads of household are OTT-only households, higher than the national average of 15 per cent among all US broadband households. The firm’s analysts also note that 61 per cent of millennials subscribe to both pay-TV and OTT services, also higher than the national average of 52 per cent.

“Younger consumers are willing to subscribe to pay-TV service, provided the offerings align with their expectations,” said Ruby-Ren Bond, Research Analyst, Parks Associates. “In particular, millennials show higher-than-average affinity for popular culture and premium movie channels as well as programming for younger children.”

“OTT services are experimenting with a variety of models in order to differentiate and find their niche within the crowded North American market, which has over 130 active OTT video services,” Bond said. “Start-ups and incumbents alike are experimenting in balancing content offerings, content costs, revenue generation, and consumer appeal.”

Parks Associates OTT data shows:

  • Nearly 60 per cent of OTT video services in the North American market are subscription-based.
  • 64 per cent of US broadband households subscribe to an OTT video service, up from 59 per cent in 2015.
  • Average monthly spending on Internet-based SVoD services among US broadband households increased from $3.71 per month in 2012 to $6.19 per month in 2015.
  • Approximately 20 per cent of US broadband households cancelled at least one OTT video service in 2015. 5 per cent of US broadband households cancelled Netflix in 2015, up from 4 per cent of households reporting in Q2 2015 that they cancelled the service in the past 12 months.
  • 14 per cent US broadband households subscribe to Hulu, and 7 per cent of US broadband households cancelled the service in 2015, roughly the same churn rate from Q2 2015.
  • 24 per cent US broadband households report having a subscription to Amazon so that they can stream video. The churn rate for Amazon’s video service declined slightly from Q2 2015 to the end of the year.

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