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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

Netflix Earnings Preview: Is Streaming Video Giant Still Snagging New Subscribers?

On top of that, the industry churn rate—a metric used to reflect cancelled subscriptions to streaming services overall—shot up 41% in Q1, the most recent statistic available, as consumers experimented...

A Challenge For Video Streamers Will Be Keeping Subscribers

A Parks Associates analysis reported that SVOD churn rate dropped from 46% in third quarter 2019 to 38% in third quarter 2020. Among recent launches, the churn rate of Disney+ was at 13%, and HBO Max,...

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Even more pertinent, according to a survey compiled by Parks Associates, 55% of cable subscribers state that live sports is an important factor in why they are staying with expensive cable packages. T...

Steven Spielberg Shuns Movie Home In Streaming Deal

Still, Peacock ranks eighth among the major subscription streaming services, with only 10% of broadband households reporting that they pay for one of Peacock's two subscription services, according to...

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