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
Parks Associates is an internationally recognized market research firm specializing in emerging consumer technology products and services. The company’s expertise includes the Internet of Things (IoT)...
Will the rumored new model help Apple TV get back up the rankings? If recently released data from Parks Associates is correct, Apple TV slipped down from third to fourth place in the rankings of th...
According to the NPD Consumers and Wearables survey, which was taken in December 2014, 54% of fitness tracker owners in the United States were women, while women made up only 29% of smartwatch owners....
In the United States, Roku, Google , Amazon , and Apple accounted for 86% of the streaming device market last year, according to research firm Parks Associates. Roku and Google's Chromecast were th...
