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
The majority of consumer electronics (CE) buyers, 71%, only consider one brand when shopping, according to new consumer research from Parks Associates. In some categories the numbers are even more ove...
According to sleep research from Parks Associates, nearly 29 million U.S. broadband households currently own a product that helps them track their sleep quality, representing less than half of the nea...
A study from Parks Associates found that “one-third of smart device owners in U.S. broadband households have increased usage of their devices during the COVID-19 pandemic, including 46% of smart door...
Parks Associates research indicates 40 percent of U.S. smartphone owners use voice-recognition software, generally eclipsing the use of phones for streaming music to speakers or video to a second scre...
