Parks Associates Forecasts More Than 278 Million Viewers Will Watch Subscription Ad-Supported Streaming Services By 2029

Key Takeaways:

• Over 278 million viewers projected for ad-supported streaming services by 2029.
• Consumers are open to interactive and shoppable television experiences.
• Industry urged to develop sustainable, scalable solutions.
• Effective use of data and optimized user experience are crucial.
• New white paper explores the next wave of connected TV revenues.

The Growth of Ad-Supported Streaming Services

Parks Associates, in partnership with Adeia, has released a new white paper forecasting a significant surge in subscription ad-supported streaming services. By 2029, more than 278 million viewers are expected to engage with these platforms, marking a transformative shift in the television landscape.

Consumer Openness to Interactivity

As the streaming industry evolves, consumers are increasingly open to expanded commercial experiences on television. Interactive and shoppable TV are emerging as key areas of interest, offering viewers new ways to engage with content.

Insights from ‘Interactive & Shoppable TV’ White Paper

The white paper titled “Interactive & Shoppable TV: Next Wave of CTV Revenues” delves into how service providers can enhance consumer experiences by embracing interactivity. It highlights the opportunity to engage viewers through commerce-enabled features, bridging the gap between content and consumer action.

Industry Strategies for Advancement

“Industry players can take productive steps today to advance the interactive TV experience for viewers and advertisers by connecting workflows, making effective use of available data, and optimizing user experience elements for interactivity,” said Jennifer Kent, Vice President of Research at Parks Associates. She emphasizes the importance of building sustainable, scalable solutions rather than relying on quick fixes.

Effective Use of Data and User Experience

Leveraging data effectively and optimizing user experience are crucial for advancing interactivity in television. By understanding viewer preferences and behaviors, service providers can tailor experiences that resonate with audiences and provide value to advertisers.

Conclusion

The anticipated growth in ad-supported streaming viewership presents a significant opportunity for the television industry. By focusing on sustainable strategies and embracing interactive technologies, industry leaders can meet evolving consumer expectations and unlock new revenue streams. The future of TV is interactive, and the time to act is now.