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
MUMBAI: Usage of authenticated video viewing, or TV Everywhere, reached 40% of US pay-TV consumers in 2015, up from 22% in 2013, according to new research from Parks Associates. The percentage of r...
Netflix is also preparing to crackdown on illegal account sharing via new artificial intelligence software, which will be able to analyze which users are logged in and then flag shared accounts. Th...
“Importantly, all of these services have increased their subscriber base over the past year,” said Parks Associates. “The top five OTT services have stayed consistent, primarily through maintaining or...
Only about one-quarter are even familiar with what a VR headset is, according to a new report from Parks Associates called "Virtual Reality: The Evolving Ecosystem." A key problem may be with the qual...
