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"
As media conglomerates such as Disney DIS -3.3% and Comcast place a greater content priority on streaming it has promoted consumers canceling their cable subscription. A study from Parks Associates sa...
It’s also important to point out that CES is a showcase for actual product vendors and an event to learn about what’s happening in the consumer technology space. For example, it was immensely gratifyi...
Parks Associates, a research and analytics group focused on IoT and smart homes, shares that consumer demand for this type of product exists. The group’s research shows that one-third of consumers now...
Consumer adoption of connected TVs continues to skyrocket. Insights from Parks Associates suggest that more than 56% of American households own a “Smart TV.” This is while cable and satellite provider...
