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
More people are buying smart home devices, and connecting them through platforms or systems like smart speakers and hubs. So says a new report from Parks Associates which found that 35 percent of smar...
A new study from Dallas-based research firm Parks Associates has found that 20% of US broadband households (approximately 90 million homes) cancelled at least one OTT or SVOD subscription in 2015....
NFL Game Pass is the most popular sports OTT video service in the U.S., according to Parks Associates, although at this point sports video services are still a relatively niche market. Overall, jus...
As it turns out, smart home owners are really satisfied customers. Give them a chance to buy a connected device, like a smart thermostat, and nearly 75 percent of them are really happy with what they...
