Providing Market Intelligence for 40 Years

In The News

Americans Now Spend Just $64 a Month on Streaming Down From $90 in 2021

Recent research from Parks Associates, presented at the StreamTV Show in Denver, CO, highlights a significant trend: spending on streaming services has dropped by 30%, with the average U.S. household now spending about $64 per month on OTT (Over-The-Top) SVOD (Subscription Video On Demand) services, down from $90 in 2021.

This shift reflects a broader reevaluation of entertainment budgets. According to Sarah Lee, Research Analyst at Parks Associates, “Consumers are spending less, but rather than go without, many are using ad-based alternatives to save on costs. A service needs to provide unique and ongoing value if it is to charge a premium.”

The data from Parks Associates indicates that households are subscribing to fewer services. In early 2024, only 20% of U.S. households reported paying for nine or more services, down from 29% in late 2023. The average number of streaming subscriptions per household has also fallen below five. Additionally, 32% of households that cancelled a service in the past year did so to reduce expenses.

Elizabeth Parks, President and CMO of Parks Associates, pointed out that all household services face challenges as consumers reassess their spending. “As consumers become more selective about their subscriptions, services that can offer a compelling mix of content and an excellent user experience will stand out. Educational content, ease of use, and seamless integration across devices are key factors that will influence consumer decisions,” she explained.

From the article, "Americans Now Spend Just $64 a Month on Streaming Down From $90 in 2021" by James Guttman

Previously In The News

5 Mistakes to Avoid When Selling Smart Locks

Smart locks contribute enhanced convenience as well as increased security, two of the principal driving factors in any smart device sales. In fact, a recent Parks Associates study found that 45% of sm...

10 Best IoT Insights and Smart-Home Quotes from Connections 2018

A short woman trips on the way to the podium of the first panel discussion at Connections 2018, produced by smart-home research firm Parks Associates. She snipes, "And I'm a morning person." You know...

Top 5 Home Tech Trends and Opportunities for 2017: From Voice Control to VR

Parks Associates research indicates 40 percent of U.S. smartphone owners use voice-recognition software, generally eclipsing the use of phones for streaming music to speakers or video to a second scre...

Parks Associates: 60% of New Security Systems Are Self-Installed

Data from Parks Associates’ recent DIY security research suggests a sharp rise in self-installed security systems in the last few years. From the article "Parks Associates: 60% of New Security Syst...

Phone:
972-490-1113
Mailing Address:
2301 West Plano Parkway, Suite 210, Plano, TX 75075
Expertise
Smart Home: Management and Safety Consumer Electronics Connected Health and Wellness Connectivity and Mobility Small-to-medium Business (SMB) MDU
Services
Research Memberships Visibility Memberships Streaming Video Tracker Smart Home and Security Tracker Broadband Market Tracker Channel Analytics
Events
CONNECTIONS™ CONNECTIONS™ Summit/CES Smart Energy Summit Connected Health Summit Future Of Video Smart Spaces
Resources
Press Releases Analyst Blog Parks in the News
About Us
Overview Team Contact Us
Store
View Your Cart

Follow:

© 2023-2026 Parks Associates. All Rights Reserved. Privacy Policy

Design & Developed By Agency Partner Interactive