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"
To perhaps no one’s surprise, this year’s E3 gaming show, held last week in Los Angeles, was hyper-focused on all things virtual reality, as the gaming industry continues to pave the way to this nasce...
Twenty-three percent of broadband households headed by millennials have completely opted out of traditional pay-TV service for over-the-top (OTT) streaming, a Parks Associates survey found. The perce...
Almost nine of 10 U.S. households have a smartphone, and more than one-third use Wi-Fi calling to stay in touch, according to research by Parks Associates. "To many travelers, including my teenage dau...
Even though major commercial security companies like ADT are still leading the home security market, low-cost solutions are on the rise and retailers play a major role in their adoption. According to...
