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
A study by Parks Associates revealed that 59 per cent of OTT subscribers favour bundled services, combining OTT with other home subscriptions. Such bundles offer simplicity, value, and convenience, al...
Amazon’s Prime Video has now overtaken Netflix as the most-subscribed-to streaming service in the United States, according to data from the research firm Parks Associates. From the article, "The St...
A research study by Parks Associates evaluated insurance opportunities in smart homes and found that 33% of U.S. households with internet would switch their homeowners or renters insurance provider to...
Parks Associates recently reported that 66% of subscribers that get fixed wireless from T-Mobile or Verizon consider their prices to be fair or good. “This compares to 51% of fiber subscribers and 35%...
