“It’s a challenging time for service providers to make the money work,” said Elizabeth Parks, president of Parks Associates. “It makes sense that there will be a lot of consolidation in the market. We expect to see this as a strategy in 2024 for companies to grow subscriber and revenue growth.”
The average consumer has 5.6 services they subscribe to, according to a recent Parks Association survey.
Parks Associates research also shows a 47% churn rate annually for streaming services.
“Consumers are overwhelmed with choice, and consolidation in the industry is bound to happen,” said Eric Sorensen, director of streaming video research product at Parks Associates.
From the article, "Warner Bros. and Paramount might merge. What's it going to cost you to keep streaming?" by Jessica Guynn
New Parks Associates research shows the importance of brand preference in consumer electronics purchase decisions, revealing that 71 per cent of buyers last year considered only one brand when making...
“For merchants with a loyal customer base, mobile payment functionality is a helpful addition to a merchant-specific mobile wallet that allows customers to earn loyalty rewards, save gift cards, and r...
A new research from Parks Associates shows that 62% of U.S. car owners would prefer to bundle vehicle data charges with their mobile data bill, while only 12% prefer a direct billing relationship with...
Recent advances in smart security and safety devices offer consumers new and expanded solutions to help them trade in worry for peace of mind. Companies invested in IoT technologies are leading that e...
