Published on : Nov 10, 2023
Parks Associates' latest research shows a dramatic increase in the use of ad-based video services, as the number of US internet households that recently used an AVOD/FAST video streaming service increased from 31% in Q1 2023 to 41% in Q3 2023. The research firm's Video Service Consumer Insights Dashboard highlights the key metrics in streaming and video services, with trending data based on Parks Associates' ongoing consumer survey work of US internet households.
Parks Associates will host its sixth annual Future of Video: OTT, Pay TV, and Digital Media on November 14-16 at the Marina del Rey Marriott in Marina del Rey, California. The agenda features industry leaders from AiBUY, ESPN, Google, Hallmark Media, LG, Love Stories TV, Paramount, Red Nation Television Network, Sling TV, XUMO, and more. The event is sponsored by Adeia, AiBUY, Bango, FPT Software, JW Player, Penthera, and SymphonyAI Media.
Future of Video will start on November 15 with the session "AVOD and FAST: Making Sense of New Hybrid Models," to discuss the strategies and successes behind these hybrid models, featuring the following speakers:
That same day, Sarah Lee, Research Analyst, Parks Associates, will present in the session "Tracking FAST and AVOD," where she will discuss the changing dynamics among consumers, streaming content, and services. She will share new research from Parks Associates to illustrate new bundling and partnership strategies for service providers in the OTT service space.
"The use of ad-supported services such as AVOD and FAST grew to 41% this quarter, confirming past predictions that more consumers will find these cost-effective options appealing," Lee said. "Streaming providers are raising prices and cracking down on account sharing in search of profitability, but consumers are struggling to make ends meet. Ad-supported business models are a win-win for both parties."
Future of Video features Parks Associates' analysts moderating all sessions, with insights, data, and analysis from the firm's ongoing consumer and industry research, including the Streaming Video Tracker.