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
YouTube TV is also available to watch on laptop and desktop computers, which for many young people equates to the biggest screen in the house. But at launch, YouTube TV doesn't have support for oth...
Depending on who you ask, the next entrant to the market could be just about anyone. “I think that CenturyLink is sniffing around that space as well,” said Brett Sappington, senior director of rese...
Level 3 is finding that as its OTT video providers have matured beyond the development stage, the next steps will be focused on providing richer content and ensuring a favorable user experience. Gi...
Almost one out of three people who use a free trial to try out a streaming video service end up subscribing, researcher Parks Associates said Monday. That "sizeable portion" of trial users dwarfs t...
