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
In the first quarter of 2016, one-third of streaming devices owned in U.S. broadband households were manufactured by Roku. That is a pretty substantial chunk, given the big names making up the competi...
The latest update of Parks Associates’ OTT Video Market Tracker analyses the launch of NFL+, the OTT subscription service operated by the NFL in the US and the market context for the service, as part...
New research from Parks Associates finds that 22 per cent of US broadband households have a service speed of 100-999 Mbps, the most common service tier, although 39 per cent of US broadband households...
Parks Associates research finds that over 50 per cent of US broadband households that subscribed to an OTT video service within the past year indicate that the service trial played a key role in their...
