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.
"So a generation is starting with a connected TV."
Yes this is the same generation that today's cable excutives belives wil subscribe to inflated prices for payTV bundles.
Yes unicorns do raom on Wall Street.
I've got three 60 inchers so I can watch the Nightly News bombast from the Big Three Networks each night at 5:30. Other than that I watch video files from hard drives, thumb drives and my Macbook 100% of the time. I'm not sure that qualifies as Over the Top?
Point well taken, Leonard.
Yes, Ida, that may qualify for the other over-the-top.