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
Parks Associates research has uncovered low awareness about the standard from dispatchers and first responders, with several also indicating concerns about the implementation due to the fragmented nat...
Beyond the obvious forms of communication (WhatsApp, Zoom, social media, email, etc.), the number of internet-connected devices per household in the US now stands at around 17 (it was one or two in th...
In 2023, Parks Associates claimed that 20% of American households now have video doorbells. From the article, "‘You could hear a man’s voice coming from our cameras’: Woman issues warning to every...
Bango is pleased to announce a groundbreaking new whitepaper. Based on interviews with leading subscription executives and first-party research from Parks Associates, it reveals some of the pain point...
