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September 24, 2013

Parks Associates: By 2017 Nearly 70M US Households Will Have Smart TVs

By Tammy Marie Rose, TMCnet Contributing Writer

Smart TVs, also referred to as hybrid TVs, are a trend of the Internet and Web 2.0 features in television sets and set-top boxes. They also offer the technological convergence between computers and these television sets. Smart TV's have a much higher focus on online interactive media, Internet TV and over-the-top content. They also offer in-demand streaming media and less focus on traditional broadcast media than other TVs do.

The technology that enables Smart TV's is incorporated in devices such as set-top boxes, Blu-ray players, game consoles, hotel television systems, and other hi-tech devices. These devices allow viewers to search and find videos, movies, photos and other content on the Web, on a local cable TV channel, on a satellite TV channel, or on a local storage drive.

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While moderating a session called "Smart TV Rising" at the New York Times Center Hall Heather Way, Senior Analyst, Parks Associates (News - Alert), stated that research shows that there will be 175 million online video users in the U.S. in 2013. She estimates those numbers will rise to 191 million by 2017. Their research shows that by 2017 there will be nearly 70 million smart-TV households. The Parks Associates advertising research has found that "25 percent of smart-TV app users recall seeing an in-app ad and 84 percent responded to that ad, the highest response rates to app advertising among current connected CE platforms."

Parks Associates are a internationally recognized market research and consulting company. They specialize in new consumer technology products and services. The group creates research capitol through their annual service subscriptions, consumer research, custom research, executive conferences, primary studies and workshops.

During the session Way explained, "The TV is still the most-popular and most-used platform for video viewing – over 40 percent of TV owners watch more than 10 hours of video per week on the device. The rise of OTT video viewing on smart TVs presents a new channel for content owners to sustain and grow their viewing audience, particularly in a marketplace that continually propagates fragmentation. The ability to leverage the mass reach of the first screen and its interactive components drives the scale and performance of a video asset."

Way's speech was part of Advertising Week, which is the premier annual gathering held in New York. Marketing and Communication leaders around the globe attend this yearly event.

Edited by Alisen Downey
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