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
Security breaches cost a lot of money. In the U.S., the average data breach costs $5.4 million. The average cost, globally, of a compromised record rose 9 percent in 2014 to $145; costs in the U.S. ro...
“Building brand mindshare early is critical so that consumers associate your brand with a category of products,” said Barbara Kraus, director of research, Parks Associates. “Consumers generally begin...
Amazon says its Fire TV is now the top-selling streaming media player in the U.S. across all retailers, and that its Fire Stick dongle sibling is the most reviewed product ever on Amazon, with over 13...
But analysts estimate that Sling has racked up fewer than 1 million subscribers since it launched in February 2015. Vue's numbers are harder to get a handle on, but it's not on the list of top 10 most...
