While the market for new and novel connected devices evolves, the connected television may beat them all as the major Internet of Things component at home.
For most pay-tv subscribers, the television remains the preferred screen for video viewing and accounts for the majority (65%) of all viewing across all platforms, according to a recent industry report.
But as watching shows on TV from traditional sources continues to decline, the power of the connected television increases.
As live TV viewing continues its decline, so-called over-the-top video continues to grow, according to the study TV Everywhere and the New World of OTT by Parks Associates.
Global OTT video service subscription revenue will top $19 billion in four years from about $9 billion last year, according to the study.
More than half (57%) of U.S. broadband households already subscribe to an OTT video service such as Netflix or Hulu Plus. And like most things IoT related, this is a global phenomenon. Here are broadband households that also subscribe to an OTT video service:
While connected thermostats, lightbulbs and (hopefully not) toasters join the Internet of Things, the TV still retains center stage.
But a connected TV is much more than a TV.
Frist of all, people grew up with it so that the learning curve is non-existent. Homes with children spend on average 90% more on OTT services and digital video than homes with no children, according to Parks Associates.
So a generation is starting with a connected TV.
What’s going on in television land is not so much about cord-cutting by TV watchers. It’s more about those connected TV consumers becoming an early part of the Internet of Everything.