24% of US broadband households with fixed broadband service likely to upgrade in the next six months

24% of US broadband households with fixed #broadband service likely to upgrade in the next six months | #TpromoCom #Trending | New research addresses continuing impact of #COVID19 on broadband usage, CE product adoption, OTT service stacking, and churn rates https://bit.ly/3cYvxj5

Parks Associates today released a new Quantified Consumer study, COVID-19: Impact on Communications and Entertainment, which reveals that in 3Q 2020, more than 50% of US broadband households reported that their broadband usage has increased since the start of the COVID-19 crisis. While consumers report broadband performance is keeping pace with the increased demand, in Q3 2020, 24% of fixed broadband households reported plans to upgrade their speed in the next six months, compared to 18% in 2Q 2020.

“Broadband upgrade plans indicate many households see some COVID-19-related changes as permanent,” said Steve Nason, Research Director, Parks Associates. “For video services, OTT service stacking has been particularly pronounced, with 45% of US broadband households subscribing to three or more OTT services. Many consumers are planning to add new services such as Disney+, Apple TV+, HBO Max, and Peacock as a permanent part of their OTT service portfolio, beyond the traditional Big 3: Netflix, Amazon Prime Video, and Hulu.”

COVID-19: Impact on Communications and Entertainment examines the impact of COVID-19 on service providers and consumer adoption and satisfaction throughout the communications, consumer technology, and entertainment and home services sectors. The research reports COVID-19 continues to widen the OTT/pay-TV gap. As many across the US remain homebound, households are continually relying on video content to fill their time outside of work and school. Within video services, COVID-19 has accelerated the trend of video viewers accessing OTT offerings at much higher rates than a pay-TV service via a traditional or online provider.

“Many traditional pay-TV subscribers are migrating to online pay-TV offerings or standalone OTT services,” Nason said. “Traditional providers, who still comprise the majority of the pay-TV market, have to continually seek ways to integrate online video services into their offerings either through homegrown solutions or external partnerships.”

For more information on COVID-19: Impact on Communications and Entertainment and other studies, contact sales@parksassociates.com. To schedule an interview with an analyst or to request specific research data, please contact Rosey Ulpino at rosey@parksassociates.com, 972.996.0233.

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43% of US broadband households with traditional pay TV are likely to switch to a vMVPD in next 12 months

43% of US broadband households with traditional pay TV are likely to switch to a vMVPD in next 12 months | #Tpromo.com #TV #Entertainment #Parks #Report | Industry report examines the growth of vMVPD sector in the pay-TV market and future-facing challenges https://bit.ly/3onC8FT

Just released research from Parks Associates reveals 43% of US broadband households with traditional pay TV are likely to switch to a virtual multichannel video programming distributor (vMVPD) in the next 12 months. The research, found in Growth and Challenges for vMVPDs, shows that while the absence of live sports and live performances during the COVID-19 pandemic created challenges for vMVPDs, the successful services like Hulu + Live TV and YouTube TV have been able to push the advantages in pricing, content, and platform flexibility to drive growth. The report examines the growth of this sector in the pay-TV market, the strategies and outlook for market players, and the challenges ahead for vMVPDs and the pay-TV market as a whole.

“Subscriber losses in traditional pay TV continue, while the vMVPD category continues to grow, thanks to consumer price sensitivity and preferences for platform flexibility,” said Paul Erickson, Senior Analyst, Parks Associates. “Traditional pay-TV operators have online delivery in their roadmaps, if not already deployed. We expect vMVPDs will continue to grow dramatically and will gradually become the dominant offering in the pay-TV landscape.”

The report also reveals 17% of vMVPD subscribers switched from traditional pay TV within the last twelve months. The factors driving pay-TV defections include pricing and perceived value, while consumers positively respond to the flexibility of vMVPDs to deliver unique and targeted content packages on a variety of connected entertainment platforms.

Prior to the pandemic’s effects on streaming video consumption, vMVPD subscriber growth was waning, with some vMVPDs posting continued losses. Though COVID-19 has driven growth and in some cases recovery in the category, recent increases in vMVPD pricing make it uncertain how consumers will respond long term.

“vMVPDs have substantial opportunity if they can avoid the pitfalls that typically drive pay-TV customer dissatisfaction, such as rising prices and inflexible content and platform options. With content prices rising and competition increasing, vMVPDs should remain conscious of consumer price sensitivity while keeping a strict adherence to a consumer-centric experience,” Erickson said.

For more information on Growth and Challenges for vMVPDs, contact sales@parksassociates.com. To schedule an interview with an analyst or to request specific research data, please contact Rosey Ulpino at rosey@parksassociates.com, 972.996.0233.

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Next Evolution of Health IoT: Moving to the Edge

Next Evolution of Health IoT: Moving to the Edge | #TpromoCom #TeleHealth | Evolutions in computing and connectivity are driving new developments in the #health #IoT space https://bit.ly/3soQvNp

Connectivity is necessary in order to gather data from devices, both in patients’ homes and in healthcare settings. However, it is not enough to simply receive the data – the value of data lies in its interpretation and use.

This whitepaper discusses how companies can unlock the value of their health device data via the use of edge computing, machine learning, and health flexible IoT platforms.

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More than 20 million US broadband households do not plan to buy a smart home device due to perceived high prices

More than 20 million US broadband households do not plan to buy a smart home device due to perceived high prices | #TpromoCom #ParksAssociates #SmartHome #HomeAutomation | CONNECTIONS™ Summit at CES features Silicon Labs, Nice, Plume, AmTrust, Alarm.com, Essence, Airties, and more (#Verdafero) https://bit.ly/35BgZBl

Research from Parks Associates finds the top three inhibitors to smart home adoption are perceived high prices, lack of a clear value proposition, and data/privacy concerns. Among the 44% of US broadband households that do not intend to buy a smart home device, representing 46.7 million households, 44% (20.5 million households) perceive these devices are too expensive; 38% (17.7 million households) don’t see the benefit of these devices; and 35% (16.3 million) have data and privacy concerns. 

Parks Associates will share ownership and usage trends of smart home, security, connected health, and home automation solutions at the 15th annual CONNECTIONS™ Summit: Smart Home Growth Strategies, taking place virtually January 14, in partnership with CES® 2021.

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