Smart TVs Show Continued Growth, Young Consumers Are Major Buyers For OTT

With the start of the Consumer Electronics Show, research shows continuing smart TV growth, especially among young consumers. Accessing OTT platforms is one major reason.

Parks Associates says 77% of smart TVs owned by U.S. broadband homes are now connected to the internet -- up from 62% in 2014. Ninety percent of U.S. broadband households own at least one TV set, and 50% own at least one smart TV while 40% own only basic TV sets.

The drive to buy a smart TV is largely focused on accessing OTT programming, according to the analysis, which says that 72% of U.S. broadband homes subscribe to at least one OTT streaming service.

Although research shows that younger broadband owners -- Generation X (those born between 1965 and 1981); millennials (1983-1998) and Generation Z (after 1999) -- own less TV sets than older U.S. age groups at around 90%, 87% and 79% respectively, most of those TV set purchases are for smart TVs.  

Those TV consumers born in 1945 and earlier -- so-called “mature” owners -- have a higher percentage of owning older basic TV sets versus smart TVs.

In addition, over 50% of recent smart TV buyers purchased a 4KTV versus 33% in the first quarter of this year.

Results here come from a third-quarter 2019 survey of 10,000 respondents.



Next story loading loading..