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 than 60% of installing dealers now report that DIY systems are biting into demand for their services, according to the fifth annual Residential Security Market Report (2018) from the research fir...
It takes a lot of time and money to acquire a customer, so once you have them, you better keep them. How can you do that if you only talk to them when they have a problem? Consumer engagement was a...
Parks Associates research reveals that U.S. broadband households have an average of 13 connected devices in their home ranging from computing to smart home devices to smart appliances to entertainment...
A recent study by Parks Associates, a technology-based marketing and research company, finds that 44% of US broadband households own speakers, 37% own headphones bought separately from a phone or musi...
