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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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16% of US broadband households have a sports OTT video service subscription, according to Parks Associates. Although it does not stream live games, NFL Game Pass is the most highly adopted service,...

Roku Leads US Streaming Media Player Sales

According to new research from Parks Associates, Amazon moved into a virtual tie with Google at 22% of sales. Along with Apple TV (20%), the four major players account for 94% of the streaming media p...

Consumer Awareness Of VR Technology Is Low

“Despite the recent industry excitement around VR, overall consumer awareness of this technology is low< " according to Brett Sappington of Parks Associates. “Virtual reality has the potential to h...

23% Of US Millennials Are OTT-Only

23% of Millennial heads of household are OTT-only households, higher than the national average of 15% among all US broadband households, according to Parks Associates. The firm’s analysts also note...

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