“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.