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
A recent study by Parks Associates in 2022 highlighted that the average U.S. household now owns 16 connected devices, reflecting an intertwined relationship between digital and daily life. From the...
According to Parks Associates research, 42% of U.S. households have at least one smart home device, and the highest adopted device is the video doorbell – now in 20% of U.S. internet households. Cu...
In some recent studies, including ones by Parks Associates, false alarms are one of the most distressing and problematic events that can occur for a subscriber or security system user. From the art...
The average U.S. household now owns 16 connected devices, according to a 2022 study from Parks Associates. From the press release, "Enhance Your Drive With the New Ford and Lincoln Digital Experien...
