Growth in Free Ad-Based Streaming Services Among Households
Parks Associates recently highlighted a significant trend in the streaming landscape, revealing that 42% of U.S. internet households utilized a free ad-based streaming video service within the last 30 days. This marks a substantial rise from only 27% in 2022, indicating a shift in viewing habits and preferences among consumers.
Rising Popularity of Ad-Based Video
With a staggering 88% of U.S. internet households subscribing to at least one streaming video service, the surge in ad-supported video on demand (AVOD) options is reshaping the media consumption landscape. Consumers are clearly embracing the flexibility and variety that these free services bring, allowing them to access a wealth of content without direct subscription costs.
The Future of Video Event
Parks Associates will be hosting the highly anticipated virtual session titled "AVOD and New Revenue" on an upcoming date. This session will delve into how these ad-supported platforms are not only transforming viewer behavior but also impacting revenue models across the industry. The in-person conference, Future of Video: Business of Streaming, will follow shortly after, allowing industry leaders to share insights and strategies in person.
Key Insights from Industry Experts
Ashton Gambrell, Director of Sales and Sponsorships at Parks Associates, expressed his excitement about the upcoming Future of Video event, stating that consumers now enjoy unprecedented freedom in choosing their content. He emphasized the importance of understanding the effects of market dynamics—such as economic factors and technological advancements—on consumer choices and industry growth.
Research Insights and Presentations
The upcoming virtual session promises to be rich in data and expert insights, featuring notable speakers including Sarah Lee, Research Analyst at Parks Associates, who will present crucial research findings. Additionally, a visionary presentation by Jonathon Barbato, Co-CEO of Best Ever Channels LLC, will provide a unique perspective on the evolving landscape of AVOD. Attendees can also expect a panel featuring key industry figures who will discuss current trends and their implications.
Future of Video and Its Impact on the Industry
Future of Video serves as a platform for senior leaders in the video and connected entertainment sectors to share their insights. The event will cover various aspects, including consumer adoption, spending patterns, and challenges faced by OTT service providers. The discussions are expected to shed light on how connected consumer electronics play a pivotal role in the growth of video viewing and present new content formats, ultimately influencing the broader video market.
Notable Conference Speakers
The conference will feature an impressive lineup of speakers, including Andrew Fitzgerald, SVP of Streaming Video Services at Hearst Television, and Ashley Hovey, Chief Digital Officer of The CW Network. Their contributions will help attendees navigate the current trends in streaming content and how organizations can adapt to thrive in this dynamic environment.
Frequently Asked Questions
What is the growth rate of AVOD services among U.S. households?
The growth rate of AVOD services among U.S. households has increased from 27% in 2022 to 42% in 2024.
What percentage of U.S. internet households subscribe to streaming services?
Currently, 88% of U.S. internet households maintain a subscription to at least one streaming video service.
What will the focus of the Future of Video event be?
The Future of Video event will focus on consumer choice, industry impacts, and successful revenue strategies in the streaming landscape.
Who are some of the featured speakers at the Future of Video event?
Notable speakers include Ashton Gambrell from Parks Associates, Andrew Fitzgerald from Hearst Television, and Ashley Hovey from The CW Network.
How does Parks Associates view the future of streaming video?
Parks Associates believes the future of streaming is centered around consumer empowerment and adapting to evolving viewing preferences and technological advancements.
