The U.S. has nearly 300 OTT services to choose from

TV watching
(Pinho/Unsplash)

Using its OTT Video Market Tracker tool, Parks Associates has found that the number of OTT services in the United States has reached nearly 300.

The firm said the total is more than double the amount when compared to 2014. 

Within the past nine months, a number of major OTT services have made waves within the industry: NBCUniversal launched Peacock and WarnerMedia launched HBO Max. ViacomCBS is also planning a re-vamped CBS All Access and changing the name to Paramount+ while Apple and Disney continue to pour millions into promoting and building up their own streaming services released just last year.

Sponsored by Dell Technologies

Whitepaper: How to Elevate Your Content Delivery Workflows With Dell EMC PowerScale

Learn how Dell EMC PowerScale helps meet surging viewer demand while reducing costs with a single centralized platform for the ingest, processing, and delivery of the content your viewers love.

The market research group also found that only six services have thrown in the towel so far in 2020. However, the report came out before Quibi this week confirmed it’s shutting down. Regardless, it’s a huge decline compared to 2018 when 19 services left the marketplace.

RELATED: Industry Voices—Nason: Are new services a threat to the ‘Big 3’ in OTT?

This spells trouble for theaters throughout the U.S. that have rushed to reopen despite an absence of mainstream blockbusters and a growing number of COVID-19 cases.

"As theaters began to reopen over the summer, film studios had to weigh their options in releasing new titles," said Steve Nason, research director at Parks Associates, in a statement. "The decision to delay the latest James Bond film ‘No Time to Die’ hit the theater industry hard, and Disney's announcement to move the Pixar film ‘Soul’ to Disney+ shows studios are putting more emphasis on streaming as many theaters remain closed or at limited capacity. We could see studios who also own streaming services experiment more with different transactional and windowing options within their offerings, as Disney did with ‘Mulan’ on Disney+ in September."

With many Americans still under some form of quarantine, critics suspect theaters are unlikely to recapture their audiences any time soon.

Suggested Articles

WarnerMedia scored a key HBO Max distribution deal with Comcast just as it launched in May. Nearly six months later, there still isn’t an app.

Peacock, NBCUniversal’s recently launched streaming video service, is rolling out 20% discounts on annual Premium subscriptions for Black Friday.

How can we defend ourselves? Mostly, it’s a matter of common sense.