US OTT subscribers market is increased more than 50% this year

According to Wall Street Journal (WSJ) reported, that the number of subscribers to major online video services (OTT) in the US has increased by more than 50 percent due to COVID 19 this year. This was due to the increase in the number of Americans staying at home after COVID 19, the closure of movie theaters, and the cessation of sports games.

As a result, Apple’s’Apple TV+’, Walt Disney’s’Disney+’, in May of this year, AT&T’s’HBO Max’, and Comcast’s’Peacock’ in July were launched one after another. Rather than going, all subscribers increased.

According to media research firm Cagan et al., households in the US currently subscribe to an average of 3.1 streaming services, and about three-quarters of households subscribe to more than one service.

However, according to the Nielsen survey, Netflix is ​​still overwhelmingly dominant in the market so that all programs that have been viewed the most weekly since July are occupied by Netflix, the journal explained.

This has the effect that Netflix has secured a lot of original content, while latecomers have difficulty creating new content due to the aftermath of Corona 19.

HBO Max’s parent company, Warner Media, is planning to provide online services at the same time as the movie theater release next year.

With streaming service companies growing together, the traditional pay-TV market, such as satellite and cable TV, is shrinking with more than 10,000 subscribers every quarter, the Journal reported.

(Via)