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

Top Smartwatch Daily Activities: Fitness Tracking, Notifications

The idea of consumers treating smartwatches as voice communication devices to make and receive phone calls hasn’t quite materialized. Rather, smartwatches are being used more as devices for activit...

Sony Goes All In on PlayStation

Sony has also been trying to make the PS4 a set-top box. Channel packages for its PlaySation Vue streaming-TV service start at $30 a month in some places and include programming from U.S. broadcast ne...

Can Samsung Kill Siri?

Today, 40% of smartphone owners already use digital assistants, according to a recent survey conducted by Parks Associates. Not surprising, millennials are most likely to partake (46%), but -- as the...

63% In U.S. Say They Are Not Aware Of Virtual Reality

The study from Parks Associates found that more than half (63%) of U.S. households say they are not familiar with or know nothing about VR. Younger generations appear to be more familiar with virtu...

Phone:
972-490-1113
Mailing Address:
Parks Associates 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