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March 16, 2021
Posted March 15, 2021

Parks: Online Video Topped Broadband Home Services During Pandemic | Source: Media Play News

author
Jennifer Wolfe
Content Partner
NAB Amplify
From the Netflix series “Bridgerton”
From Netflix’s “Bridgerton,” the streaming service’s most-watched series to date

“New data from Parks Associates found that online video service use jumped to 60% of U.S. broadband homes in September 2020, compared with 50% in July. The trend reverberated across other online activities, including video conferencing, ecommerce, remote working, schooling, and fitness.”

Source: Erik Gruenwedel, Media Play News

AT A GLANCE:

Dallas-based research firm Parks Associates has released a new report examining the impact of the COVID-19 pandemic on consumer behavior and spending.

COVID-19: Impact on Consumer Behavior and Spending reports that as of September 2020, 41% of US broadband households, representing 45 million households, were engaged in remote work or remote schooling. Sixty-two percent of remote workers are using their home broadband more than usual, almost double the rate of non-remote workers.

Key findings and market insights from the report include:

  • The overall churn rate for OTT services dropped to 38%, down from 46% a year ago.
  • COVID-19 has prompted roughly 33% of security system owners and intenders to avoid professional installers.
  • 24% of households with fixed broadband service report they are likely to upgrade in the next six months.
  • 60% of pay-TV subscribers are interested in content from an online video service as part of their pay-TV subscription.
  • Use of telehealth services jumped from 15% in 2Q 2019 to 41% in 2Q 2020.
  • More than 15 million US households have only a mobile broadband service, including more than 12 million that cut the cord on their home broadband and approximately three million that have never had home broadband services.
  • NPS for mobile phone providers trends significantly higher than NPS for pay-TV and internet service providers, with Boost Mobile and T-Mobile leading the way.

Head over to Media Play News to read the full story.

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