In a new report from Parks Associates, the researcher reports a significant drop in spending and a declining number of services viewers subscribe to.
"Consumers are spending less, but rather than go without, many are using ad-based alternatives to save on costs," said Sarah Lee, Research Analyst, Parks Associates. "A service needs to provide unique and ongoing value if it is to charge a premium."
"All categories of household services face challenges, as consumers reevaluate their spending and subscriptions," said Elizabeth Parks, President and CMO, Parks Associates. "A focus on value and education, the user interface, and the customer experience is what will drive the next generation of services in the home."
The results are in line with Park’s previous research last fall that reported a steep 25% decline in the number of streaming subscriptions since 2021 with nearly one-third (31%) of households having used free ad-based services by the end of 2022.
From the article, "Are Viewers Cutting Back on Streaming?" by Tom Butts
For a virtual helpmate to run your life, it needs to engage with the providers of all the services you rely on, from your calendar app to your Uber ride. Those providers must either partner with the c...
It’s nearly impossible to find a household today that doesn’t have at least one connected smart home device installed. From video doorbells to robot vacuums, automated lighting, and voice assistants,...
Parks Associates estimates that over the past five years, the number of SVOD services has more than doubled, to 271. And projections are that subscription streaming will grow at a faster clip than any...
As cable providers continue to jack up prices and flail at efforts to improve customer service, more and more users are cutting the cord and embracing over the air (OTA) broadcasts via antenna. One re...
