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
“Hypothetically a new combined entity will be a stronger competitor,” Parks Associates analyst and director of research Paul Erickson told TheWrap. “HBO Max on its own merits is already breaking into...
God bless early adopters. They pay the huge prices for items the rest of us aren’t so sure we need or want. The color TV! PCs and iPads. Cell phones the size of a loaf of bread! Their early confidence...
Amazon, Apple, Google and Roku devices made up 86% of all media-streaming products sold to U.S. households with broadband in 2014, according to an August report by Parks Associates. An estimated 86 mi...
The rise of cord-nevers is a real threat to the pay-TV industry, but the number of cord-cutters is growing, too. Similar findings from two research firms illuminate the changing nature of consumers...
