In a new report from Parks Associates, the researcher reports a significant drop in spending and a declining number of services viewers subscribe to.
"Consumers are spending less, but rather than go without, many are using ad-based alternatives to save on costs," said Sarah Lee, Research Analyst, Parks Associates. "A service needs to provide unique and ongoing value if it is to charge a premium."
"All categories of household services face challenges, as consumers reevaluate their spending and subscriptions," said Elizabeth Parks, President and CMO, Parks Associates. "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."
The results are in line with Park’s previous research last fall that reported a steep 25% decline in the number of streaming subscriptions since 2021 with nearly one-third (31%) of households having used free ad-based services by the end of 2022.
From the article, "Are Viewers Cutting Back on Streaming?" by Tom Butts
Apple TV has lost streaming media market share while competitors thrive. A Parks Associates report this week showed Apple’s market share dropping from 19% in Q1 last year to 15% this year. Amazon’s Fi...
Hub said this year marked the first time since it began tracking viewing patterns in 2014 that viewers are "more likely to say they watch a recently discovered favorite show from an online source than...
More than half of all U.S. homes with broadband subscribe to both a pay TV service and at least one over-the-top video service, according to a new study by Parks Associates. In its OTT Video & TV E...
More than half of all U.S. homes with broadband subscribe to both a pay-TV service and at least one over-the-top video service, according to a new study by Parks Associates. In its OTT Video & TV E...
