Parks Associates June 25 announced that new data found a 30% drop in spending for streaming SVOD services, with the average U.S. internet household spending about $63 per month on streaming video services, down from $90 in 2021.
“Consumers are spending less … many are using [lower-cost] ad-based streaming alternatives to save on costs,” analyst Sarah Lee said in a statement.
Parks said that in the first quarter, 20% of U.S. internet households paid for nine or more services, versus 29% in Q3 2023. The overall average number of streaming video service subscriptions per household has dropped below five, and 32% of households that canceled a service in the past 12 months cited a need to cut household expenses as the reason.
“All categories of household services face challenges, as consumers reevaluate their spending and subscriptions,” analyst Elizabeth Parks said in a statement. “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.”
From the article, "Parks: Household Average SVOD Spending Drops from $90 to $64 Monthly" by Erik Gruenwedel
"Importantly, all of these services have increased their subscriber base over the past year. The top five OTT services have stayed consistent, primarily through maintaining or growing the massive user...
Just when you thought things could not get worse for pay TV… This week Parks Associates published a new survey that showed the number of dissatisfied cable TV subscribers has doubled in just a few...
Beyond that, AT&T also gets revenue by licensing those movies and TV series to other pay-TV providers and subscription Net TV services such as Netflix. "Video and entertainment will remain the key dri...
According to research from Parks Associates, the majority of American consumers (60%) buys or leases their residential gateway from their internet service provider (ISP). However, existing gateways ar...
