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
The company, founded in 2009, managed to upend the taxi industry and become the world's most valuable startup, with a valuation of $68 billion. With its no-apologies attitude and notoriously aggressiv...
The new Apple TV box will feature a faster processor capable of streaming higher-resolution 4K content and highlighting live television content, Bloomberg reported Thursday. The update box is expected...
A recent report from Parks Associates suggested AI’s benefits can be extended beyond content production and enhancement. “AI-enabled systems will also be increasingly used in content creation decis...
While Apple and Samsung still talk up the fashion aspects of their devices, they've now shifted to emphasize something else even more: health and fitness. People may want their smartwatches to look go...
