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

Report: CE State Of The Industry 2023

Not everyone is so sanguine about an H2 recovery, however. “With inflation touching virtually every category, spending on consumer electronics may not be a top priority at present,” argues Sarah Lee,...

The technological goal of MLS to world football

It is worth cross-checking this data with another from the Parks Associates consultancy : annual revenue from subscription to OTT sports platforms (transmission of video and audio content over the Int...

eero reveals Communities spirit for indoor connectivity

According to Parks Associates research, 31% of the US population resides in MDUs, and with new apartment construction continuing to grow, up 24.1% as of February 2023, internet service providers (ISPs...

Why Eero is going after the rental property market with Wi-Fi

To get a sense of how big the MDU market is, Parks Associates research reveals that 34% of US broadband households are MDU residents. After reading that it’s roughly one in three, I suppose that makes...

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