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.