Research from Parks Associates shows shifts in demand for streaming video services in the US, including a significant drop in spending. The firm’s latest research from its Video Services Dashboard reports a significant 30 per cent drop in spending for streaming SVoD services, with the average US internet household spending about $63 (€58.91) per month on OTT SVoD services, down from $90 in 2021.
“Consumers are spending less, but rather than go without, many are using ad-based alternatives to save on costs,” commented Sarah Lee, Research Analyst, Parks Associates. “A service needs to provide unique and ongoing value if it is to charge a premium.”
“All categories of household services face challenges, as consumers reevaluate their spending and subscriptions,” added Elizabeth Parks, President and CMO, Parks Associates. “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 Advanced Television article, "Research: US SVoD spend drops"
Smart home technology that has long been knocking at doors will settle into the mainstream after rival gadgets and services become hassle-free guests that get along with one another, industry insiders...
Marketing for RecycleHealth got an unexpected boost from an applicant to the digital health communication certificate program, who volunteered her design skills and did a photo shoot of donated device...
Mobile payments are still an up-and-coming new capability for consumers; while mobile banking has clearly led the way, there’s still a lot of interest in mobile payments at least in some fields. Wh...
Parks Associates has hosted the final day of the company’s 20th annual CONNECTIONS conference in San Francisco with panel discussions moderated by the firm’s analysts and featuring executives from com...
