New whitepaper developed in partnership with FPT Software addresses how streaming businesses can use artificial intelligence (AI) and machine learning (ML) to drive engagement and monetization

Parks Associates’ recent consumer research finds that 83% of US internet households now subscribe to at least one OTT service, while 45% still subscribe to the traditional linear pay-TV service model. The firm’s new whitepaper, Engaging Next-Gen Video Viewers: Leveraging AI and ML, developed in partnership with FPT Software, addresses the increased use of video services, content preferences, discovery challenges, and the role of bundles.

“The most successful video services going forward will be dominated by innovative technologies, including AI and ML, that drive sustained high levels of engagement with consumers through advanced content moderation and curation,” said Sarah Lee, Research Analyst, Parks Associates.

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

“There is a vast range of AI and ML use cases in media and entertainment – companies are only starting to scratch the surface. These can range from generating richer metadata that can be used to drive experiences to reducing time required for content preparation to driving deeper advertising engagement,” said Ira Dworkin, Managing Director of Communications, Media and Entertainment, FPT Software. “Leveraging and extending the data that already exists for many M&E companies to build bespoke AI/ML models can help to drive new insights, ultimately reducing churn and improving subscriber loyalty.”

Parks Associates research finds that 30% of US internet households are “service hoppers” or streaming video subscribers who frequently switch services and re-subscribe multiple times. Businesses that harness AI can develop more effective and efficient strategies to keep these viewers from “hopping.”

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

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

About Parks Associates: Parks Associates, a woman-founded and certified business, is an internationally recognized market research and consulting company specializing in emerging consumer technology products and services. Founded in 1986, Parks Associates provides business intelligence and research services through its proprietary methodologies developed over decades, including quarterly surveys of 10,000 internet households.

The company's expertise crosses many industries: home security and smart home, streaming video, broadband and pay-TV services, digital media and platforms, gaming, Wi-Fi and home networks, connected health, support, consumer electronics, home control systems, energy management, and tech solutions for the multi-dwelling (MDU), small-to-medium business (SMB), and commercial building markets.

Each year, Parks Associates brings thousands of leaders together for its webinars and annual events. The firm hosts the annual executive research and strategy conferences CONNECTIONS™, Connected Health Summit, Smart Energy Summit, Smart Spaces, and Future of Video. https://www.parksassociates.com
 

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