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
"Streaming media players continue to stake out a growing portion of the connected home," explained Parks director of research and author of The Streaming Media Device Landscape, Barbara Kraus. "It is...
Even though millions of people have game consoles like the Xbox One and PlayStation 4, people are streaming less video on game consoles, and more on streaming media players, according to new research...
Only 3% of UK broadband households have cancelled one or more over-the-top (OTT) video services within the past year, according to research from Parks Associates. The research firm found that servi...
According to research from Parks Associates, US broadband households now own an average of seven and a half connected computing and video entertainment devices, and 18% own at least one smart home dev...
