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
You can read about the motives driving the transformation in TV operations including agility, the crucial role of orchestration and how video workflows can be created and consolidated, how virtualizat...
About a quarter of U.S. broadband households are concerned about their privacy and security when using connected CE devices, according to a new Parks Associates white paper, sponsored by Verimatrix. T...
"In addressing the low consumer awareness for smart home solutions, all players have ample opportunities to make inroads in this early market," Eddie Accomando, research analyst at Parks Associates sa...
A new Parks Associates report is projecting that global mobile data revenue will increase from $386 billion in 2015 to $630 billion in 2020. North America and Western Europe will see only minimal grow...
