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
About 60% of U.S. households currently use Netflix, according to research firm Parks Associates, and it still holds a sizable lead over most of its rivals—though some new entrants are gaining ground f...
The coronavirus pandemic has been a boon for major streaming services, including Netflix Inc., Disney’s Hulu and Amazon.com Inc.’s Prime Video, whose subscriber base soared last year in the midst of g...
Home security systems have historically required professional installation, but the rise of smartphone-connected and do-it-yourself products in recent years has expanded the market, according to Jenni...
Roku still inhabits an enviable position in the streaming wars. The company powers about 38% of streaming devices and connected TVs in the U.S., according to Parks Associates, representing a leading m...
