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83% of US Internet Households Subscribe to at Least one OTT Service, While 45% Subscribe to Traditional Linear Pay TV

New white paper co-developed with FPT Software explores how streaming companies can use artificial intelligence (AI) and machine learning (ML) to drive engagement and monetization

DALLAS, November 18, 2022 /PRNewswire/ — Recent consumer research from Parks Associates shows that 83% of Internet households in the US now subscribe to at least one OTT service, while 45% still subscribe to the traditional linear pay-TV model. The company’s new whitepaper, Engaging the next generation of video viewers: leveraging AI and MLco-developed with FPT Software, addresses the increased use of video services, content preferences, discovery challenges and the role of bundles.

“The most successful video services of the future will be dominated by innovative technologies, including AI and ML, that drive continued high levels of consumer engagement through advanced content moderation and curation,” said the CEO. Sarah LeeResearch Analyst, Parks Associates.

AI and ML can create a personalized experience by leveraging data to understand patterns and relationships at a very granular level, beyond the recommendations made by “standard” big data-based systems.

“There is a wide range of AI and ML use cases in media and entertainment – ​​companies are just beginning to surface. These can range from generating richer metadata that can be used to drive experiences to shortening of the time it takes for content preparation to go deeper into advertising engagement,” said Ira Dworkin, Managing Director Communications, Media and Entertainment, FPT Software. “Harnessing and extending the data that already exists for many M&E companies to build custom AI/ML models can help generate new insights, ultimately reducing customer churn and increasing subscriber loyalty. improved.”

Research from Parks Associates shows that 30% of internet households in the US are “service hoppers” or streaming video subscribers who frequently switch shifts and resubscribe multiple times. Companies that use AI can develop more effective and efficient strategies to prevent these viewers from ‘hopping’.

“By understanding the viewer on a deeper, personal level, companies can deliver a more positive, individualized experience that drives acquisition, satisfaction and retention,” said Lee. “AI and ML models can provide this insight and identify factors that result in increased customer acquisition and long-term subscriptions.”

To request data or an interview, please contact Rose Sera Bee [email protected]972.996.0233.

About Parks Associates

Parks Associates, an internationally recognized market research and consulting firm owned and led by women, specializes in emerging technology solutions serving the consumer market and small and medium-sized enterprises (SMEs). Celebrating his 35e In 2021, Parks Associates is a partner for companies navigating the evolving consumer technology landscape through data-driven market insights, comprehensive consumer and industry intelligence, customized marketing services, and executive networking experiences and conferences.

The company’s expertise includes home automation, control systems and security, digital media and platforms, entertainment and gaming, home networking, internet and video services, connected health and independent living solutions, mobile applications and services, support services, consumer electronics and energy management solutions. http://www.parksassociates.com

About FPT software

FPT is a global technology and IT service provider headquartered in Vietnamwith almost $1.6 billion in turnover, 37,000 employees and development centers worldwide. Leading media and entertainment companies rely on FPT Software to accelerate their roadmaps. With over 20 years in the industry, FPT Software is equipped with experience in providing solutions for the media supply chain, metadata, OTT and connected TV apps, end-to-end content delivery and more. We also offer services focused on cloud technologies, data and analytics, AI and machine learning, and testing and test automation. We are focused on delivering outstanding customer experiences with a boutique business feel.

Contact:
Rosimely Sera
Park Associates
972.996.0233
[email protected]

SOURCE Parks Associates

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