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
To go a step further, Apple could embrace over-the-air antennas, whose usage is still on the rise as cable subscriptions sink. (According to Parks Associates, roughly 20 percent of U.S. homes with bro...
Parks Associates released findings in October estimating that 46 percent of U.S. Millennials with smartphones use voice recognition software, while a separate report from TiVO indicated 43 percent of...
US broadband households watch an average of 3.8 hours of internet video on TV screens each week, accounting for 20 percent of all video viewed on this device, according to research by Parks Associates...
By the end of 2020, there will be 17.2 million 5G consumer market subscriptions worldwide, concentrated in the US, Japan, South Korea, China, Australia, and major industrial nations in Western Europe,...
