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
News tracking the rise of over-the-top streaming services is nothing new. Parks Associates recently found that only about a third of traditional pay TV customers are happy with their service. Some 63...
Mainstream consumers don’t seem eager to connect their garage doors and light bulbs to the internet, according to data presented by research firm Parks Associates during a Tuesday webcast. With ease o...
Here’s the rundown: Parks finds more than half of U.S. broadband households now watch internet video on a television screen, while less than a quarter don’t watch any video content on a TV set at all....
A new report released from Parks Associates shows that 59 percent of U.S. broadband households subscribe to Netflix, Amazon, or Hulu. The three main players have a serious stronghold, with only 6 p...
