Parks Associates reports a continued wave of subscription service uptake among US households, led by streaming video, retail memberships, and streaming audio, while 20 per cent of households have a gaming subscription, outpacing gym memberships.
Parks Associates recently released a consumer study of 8,000 US internet households, Subscription Memberships and Bundling: Shopping, Video, Gaming, Mobile.
“The evolution of hardware to a service model and demand to drive engagement and loyalty for brands through apps are driving the rise of subscription services,” said Jennifer Kent, Vice President, Research, Parks Associates. “On the streaming audio side, market leader Spotify’s premium adoption is as high as that of Discovery+, the ninth highest video OTT subscription service.”
“Competitive pressure will force market challengers to forge stronger ties, e.g., Walmart Plus and Paramount Plus. Subscription bundlers should seek offerings that span entertainment, productivity, and convenience,” added Kent.
From the Advanced Television article, "Research: 20% of US homes subscribe to gaming service"
Several factors contribute to OTT video service churn by consumers, according to Brett Sappington, senior director of research at Parks Associates. “In some instances, consumers are experimenting with...
But can Home overtake Echo? If we look at two other competing devices from the companies, the Amazon Fire TV Stick and Google Chromecast, the two were virtually tied with 22% of streaming media player...
Streaming video device pioneer Roku continues to lead the market, but rivals Amazon.com (AMZN), Apple (AAPL) and Alphabet (GOOGL)-owned Google are close behind. Roku accounted for 30% of streaming...
The category certainly shows positive momentum. Last month, Parks Associates released research that found that one quarter of U.S. smartphone owners use payment apps at least once monthly and that mor...
