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Parks: Economics challenge household finances – and the entertainment industry

July 09, 2024

StreamTV Insider

Streaming, meanwhile, is the leading choice for video entertainment today; today, 88% of US internet households subscribe to at least one OTT service, according to Parks Associates' most recent Video Services Dashboard, a consumer research study of 8,004 heads of US internet households conducted between March 21, 2024 and April 4, 2024.

Parks Associates research shows that US households with 5 or more OTT subscriptions dropped from 52% to 46% and that average monthly spending on OTT SVOD services decreased from $73 in Q3 2023 to $63 in Q1 2024.

According to Parks Associates research, companies that own or aggregate television and video assets distribute their content across 18 platforms on average.

Recent custom research from Parks Associates and SymphonyAI media division notes that 47% of executives in the streaming industry lack the data needed to make good business decisions. Even when that data is available, it is often difficult or impossible to collate and compare—71% of industry executives say it is difficult to see all the streaming-related data in one place.

Parks Associates IV graph July 2024

From the article, "Parks: Economics challenge household finances – and the entertainment industry" by Elizabeth Parks

Previously In The News

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But thermostats that collect data on you aren’t a hypothetical. In fact, they’re quickly becoming the standard: By 2017, market research firm Parks Associates estimates more than half of the thermosta...

OTT Subs Exceed 60% Of US Broadband Homes

“The growth of OTT subscription services is amazing. Several notable OTT services launched during the past year, and more will be introduced in 2016. We expect to see a variety of new content options...

US Consumers Spend Over $6 On OTT

Consumers in hte US spend over $6 per month on Netflix, Hulu Plus, and other subscription OTT video, according to Parks Associates. The average monthly spending on internet-based SVOD services amon...

Cord-cutting Lower In Western Europe Than The US

Connected Consumer in Europe, a new report from Parks Associattes, reveals Spanish consumers are more likely than consumers in other Western European markets either to have never had pay TV or to have...

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