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
Netflix has by far the most loyal subscribers of its competitors, according to new research by Parks Associates. Analysts found that Netflix subscribers were much less likely to cancel than those o...
On the Yahoo side - there’s a collection of content resources as well, such as Yahoo Sports, Yahoo Finance, Yahoo Music, Yahoo Movies, Yahoo Weather, Yahoo News, Yahoo Answers and Yahoo Games. Yahoo c...
According to research from Parks Associates, a fifth of broadband US households have cancelled at least one over-the-top (OTT) video service in the past 12 months, up two percentage points from a year...
What's more, this summer Facebook will offer the plans for the camera and the code for its software for free on the popular developers' website GitHub. "We're open-sourcing the camera and the softw...