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"
However, familiarity has at least tripled since the introduction of smart home devices through the residential security industry — real progress. New market entrants and improved iterations of existin...
At last tally, Apple ranked fourth behind Roku, Amazon and Google in terms of streaming media player market share in the U.S., according to Park Associates. In other Apple TV news, SiriumXM just re...
In the home, Parks Associates estimates that nearly 50 percent of U.S. broadband households use a personal assistant through an application or dedicated device. And currently 10 percent of U.S. broadb...
Recently, Parks Associates tested consumer interest in smart home devices that can detect potential damage or loss due to water, fire, and theft and then notify the homeowners and/or take automated st...
