Parks says the average length for a OTT video services is two-and-a-half years: 30 months.
In addition, the marketing research company says “churn” rate among U.S. OTT subscribers is 18%. The churn rate is the overall number of subscribers cancelling an OTT service as a percentage of current OTT subscriptions.
Parks says U.S. OTT penetration is “starting to plateau at around 65% adoption among U.S. broadband households.”
In July, comScore estimated that only eight OTT services reach more than 10% of streaming homes, or more than 5.95 million homes using the service. The top four: Netflix, at a 73% penetration; YouTube, 50%; Hulu, 36%; and Amazon, 28%.
In four years, Parks estimates that more than 265 million households worldwide will have over 400 million OTT video service subscriptions.
Parks says more than 85% of U.S. millennials subscribe to at least one OTT video service.
The Parks research comes from a first-quarter survey of U.S. broadband households of 5,000+ respondents.