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
Market research and consulting firm Parks Associates estimates that 19 percent of households with broadband in the U.S. already own a smart home device, thanks in part to increased smartphone ownershi...
With projected sales of more than 8.3 billion smartphones and over 400 million smart watches between 2016 and 2020 worldwide by Parks Associates, wireless charging technologies have an enormous addres...
"Apple remains the dominant smartphone manufacturer in the U.S., but Samsung is catching up," said Harry Wang, director of mobile product at Parks Associates. "Apple controls 40 percent of the smartph...
According to a new Parks Associates study, digital media usage varies based on OS brand and carrier. iPhone users consume more media than Android and other operating systems. T-Mobile and Sprint custo...
