Providing market intelligence for more than 35 years

In The News

Parks: Household Average SVOD Spending Drops from $90 to $64 Monthly

Parks Associates June 25 announced that new data found a 30% drop in spending for streaming SVOD services, with the average U.S. internet household spending about $63 per month on streaming video services, down from $90 in 2021.

“Consumers are spending less … many are using [lower-cost] ad-based streaming alternatives to save on costs,” analyst Sarah Lee said in a statement.

Parks said that in the first quarter, 20% of U.S. internet households paid for nine or more services, versus 29% in Q3 2023. The overall average number of streaming video service subscriptions per household has dropped below five, and 32% of households that canceled a service in the past 12 months cited a need to cut household expenses as the reason.

“All categories of household services face challenges, as consumers reevaluate their spending and subscriptions,” analyst Elizabeth Parks said in a statement. “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 article, "Parks: Household Average SVOD Spending Drops from $90 to $64 Monthly" by Erik Gruenwedel

Previously In The News

33% Subscribe To OTT In UK

33% of UK broadband households subscribed to an OTT video service as of 3Q 2015, according to Parks Associates. The same study shows that only 15% of UK households with pay-TV subscribe to premium...

Average US Monthly SVOD Spend Tops $6, Says Report

The figures come from a new research report by Parks Associates, which explains that, while a typical price point for a subscription service is $7-$10, several niche services are available for under $...

60% Of US Broadband Homes Subscribe To At Least One OTT

Parks adds that content will be key to attract the new video-centric consumer, and these emerging cloud-based businesses will be experimenting with different monetization models in 2016 and beyond....

19% of US Broadband Households Have Smart Home Device

Parks Associates today announced a new industry report, Cloud Platforms for the Internet of Things, revealing 19% of US broadband households currently own at least one Internet-connected smart home de...

Phone:
972-490-1113
Mailing Address:
5080 Spectrum Drive, Suite 1000W Addison, TX 75001 USA
Expertise
Smart Home: Management and Safety Consumer Electronics Connected Health and Wellness Broadband Small-to-medium Business (SMB) Connected Health
Services
Research Services: Custom and Consulting Research Projects Streaming Video Tracker Security Tracker Smart Home Tracker
Events
CONNECTIONS™ CONNECTIONS™ Summit/CES Smart Energy Summit Connected Health Summit Future Of Video Smart Spaces Upcoming Industry Events
Resources
Press Releases Analyst Blog Parks in the News Connected Consumer Podcast 
About Us
Overview Team Contact Us
Store
View Your Cart

Follow Us to stay informed

© 2023-2024 Parks Associates. All Rights Reserved. Privacy Policy

Design & Developed By Agency Partner Interactive