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
As the latest edition of the International CES trade show begins on Tuesday, consumers are faced with a slew of new standards, protocols and frameworks to tie home IoT products together as an easily m...
The best CES interviews take place in the hallways and byways of the Las Vegas Convention Center and its surrounding hotels. Such was the case with Comcast Vice President of Product Development and Pl...
The UK has got a taste for OTT video services -- but it prefers the flavor of the free stuff. That is one of the conclusions of a report into the European OTT market by Parks Associates , which found...
The investment comes at a time when there are more than 100 Internet video services operating in the U.S., with at least 40% launching during the past two years, according to Dallas consulting firm Pa...
