61% of Homes Have at Least 2 OTT Services; Economy Could Limit Spend: Parks

Sixty-one percent of U.S. broadband households subscribed to two or more over-the-top video services in Q3, up from 48% in the year-ago quarter, reported Parks Associates Monday. ViacomCBS is expanding CBS All Access to become Paramount+ early next year (see 2009150003), joining several other OTT video services that hit the market in the past year, trying to take share from the big three: Netflix, Amazon and Hulu. The pandemic stirred up competition at the top of the OTT ecosystem, as viewers spend more time at home, said analyst Steve Nason. The five main challengers are “filling in important content gaps not currently being delivered by the Big 3 and other services,” said Nason.