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

The Crucial Role of Technology Partnerships: Helping Schools Flourish

The educational landscape has undergone a profound transformation. Classrooms, once adorned with traditional teaching tools, have evolved into digital hubs where connectivity is no longer a luxury but...

Your Smart Video Doorbell May Not Be Secure, Consumer Reports Testing Shows

Around 1 in 5 people age 50 and older own a doorbell camera, according to survey data from the Addison, Texas-based Parks Associates market research firm, figures that are roughly in line with all U.S...

Walmart buys TV portal to nowhere

As streaming services bundle together, monopolizing the delivery of shows – whether it’s the TV unit or the wifi - becomes more important, too. Vizio, with over 10% of television sales market share, i...

Walmart confirms $2.3 billion Vizio deal; Walmart Connect to benefit

The Walmart Vizio deal comes as competitor Roku has a 25% share of the connected TV market, based on smart TV operating systems in use, according to Parks Associates. Amazon makes up 17% of the market...

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