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
There is an increasing install base for 4K: according to research from Parks Associates, among broadband households planning to purchase a flat-panel TV, 59% in the UK, 57% in France, 53% in Spain and...
Introduction of a drone is a natural extension of GoPro's core wearable camera business, and bundling its new cameras with Karma is likely to benefit sales of both devices, noted Barbara Kraus, direct...
Netflix customers are loyal. In research published this April, analysts from Parks Associates found that Netflix subscribers were much less likely to cancel than those of Hulu or Amazon Prime Video. O...
This is according to Parks Associates, which also found that three-quarters of US broadband households access this content at least once a month. "Today's home entertainment is all about personalis...
