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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

Amazon to Ban Sale of Apple TV, Google Chromecast Streaming Devices

Amazon, Apple, Google and Roku devices made up 86% of all media-streaming products sold to U.S. households with broadband in 2014, according to an August report by Parks Associates. An estimated 86 mi...

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The rise of cord-nevers is a real threat to the pay-TV industry, but the number of cord-cutters is growing, too. Similar findings from two research firms illuminate the changing nature of consumers...

Connected TV Takes Center Stage in Internet of Things at Home

As live TV viewing continues its decline, so-called over-the-top video continues to grow, according to the study TV Everywhere and the New World of OTT by Parks Associates. Global OTT video service...

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More than a fifth (21%) of U.S. broadband households with a connected electronics device are using it for streaming media, up from 12% last year. Moreover, usage of connected gaming consoles and DVRs...

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