DALLAS—Parks Associates has released its updated list of the top 10 US paid subscription over-the-top (OTT) video services, with Netflix in the top spot followed by Amazon’s Prime Video and Disney+, which moved into the top three SVOD servces for the first time, edging past Hulu.
The ranking is based on estimated numbers of subscribers through September 2021 from the firm's OTT Video Market Tracker. The research firm reports the sub counts based on quarterly surveys of 10,000 US broadband households.
Parks also reported that more than 80% of broadband households have at least one OTT service and that the churn rate for OTT services is an alarming 44%, with consumers adopting multiple subscriptions and experimenting with different services.
"While the Disney+ content portfolio may have allowed it to leapfrog stablemate Hulu in 2021 rankings, its position reaffirms the collective power of the Disney Bundle triumvirate: Hulu, Disney+, and ESPN+," said Paul Erickson, director of research, Parks Associates. "ViacomCBS's successful rebrand and content-fueled reformulation of CBS All Access into Paramount+ have allowed it to leapfrog Apple TV+ into seventh place behind ESPN+, and time will tell if the service will break into the Top 5."
HBO Max moved into the top five, while Paramount+ (rebranded from CBS All Access) jumped to number seven on the list, while new entrant Discovery+ is right behind in the eleventh position.
"Broadband providers added an estimated 6.4 million residential customers to date in 2021, showing rapid growth," said Kristen Hanich, director of research, Parks Associates. "The importance of bundling pay TV with home broadband is diminishing though – our Home Services Dashboard finds that only 38% of US broadband households bundle pay TV with their home internet service, a significant decline from past levels."
Parks also reported that the role of online TV continues to grow, with consumers embracing OTT services offered by familiar providers.
"In Q3 2021, 19% of US broadband households reported subscribing to a vMVPD service, nearly double from the previous year," said Eric Sorensen, contributing senior analyst, Parks Associates. "By 2024, the US vMVPD subscriber base will increase to more than 23 million households. All players will continue vying for the leading positions."
