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
Voice’s resurgence seems counter-intuitive. The technology first boomed in the 1990s with voice prompters in customer call centers – not always a satisfying experience as the prompters many times rout...
A new study of smart home device owners conducted by Parks Associates in the US has found that 12pc never have their technical problems solved, compared with 5pc in the previous three years. “Stron...
“We need to look at problems in the home from a holistic perspective and realize it is the value of all these devices working together that will drive adoption of the smart home,” EVRYTHNG senior vice...
According to Parks Associates' research, 72% of non-pay-TV subscribers subscribe to an OTT video service, which is their primary source for content. Just less than half of broadband households in the...
