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
But what makes Spain unique in Western Europe is that about half of households have broadband but not pay TV, one of the highest internet-only household rates in Europe, according to research firm Par...
“We need to look at problems in the home from a holistic perspective and realize it is the value of all these devices working together that will drive adoption of the smart home,” EVRYTHNG senior vice...
In an update today of its ranking of subscription OTT services in the U.S., Parks Associates said HBO Now and Starz have entered the top five, trailing only streaming giants Netflix, Amazon and Hulu....
The tech giant is racing to catch up to the dominant streaming players. Amazon Prime Video is in 200 countries while Netflix is in more than 190 countries. Apple also has a smaller share of the str...
