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Parks: Economics challenge household finances – and the entertainment industry

July 09, 2024

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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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Parks Associates research shows that almost half (47%) of US broadband households are concerned their private information stored on connected devices could be made public, and 47% of US broadband hous...

The Sports Broadcast Revolution Will Be Tweeted

According to a recent study by Parks Associates, sports networks like MLB TV and WWE Network ranked number four and number five behind the three big OTT providers (Netflix, Amazon and Hulu) in terms o...

Sony Unveils Slew of New PlayStation Titles

"A lot of enthusiasts are looking forward to the PS4 VR, so it should be a hit during the holiday season," noted Brett L. Sappington, director of research at Parks Associates. Sony's VR offering al...

Quarter Of US Millennials Are OTT-Only

About a quarter (23%) of millennial heads of household in America are over-the-top (OTT)-only households, higher than the national average, according to Parks Associates. parksottAcross the country...

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