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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

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New research out this week from Parks Associates found that Chromecast makes up just 11% of all streaming players installed in the United States, down from 21% three years ago. Meanwhile, Roku’s U.S....

What I’m thankful for in sports media

Media research firm Parks Associates said there are more than 300 direct-to-consumer streaming services in the United States. From the article "What I’m thankful for in sports media" by Jeff Agrest...

Apple’s HomePod Has Arrived. Don’t Rush to Buy It.

Apple also provided statistics on smart speaker usage from the research firm Parks Associates. That report also found that playing music and getting the weather were the top uses of smart speakers, wh...

CBS sees consumers taking as many as 10 OTT video subscriptions

If DeBevoise’s 10 OTT service prediction comes true, and Parks Associates’ latest top 10 U.S. OTT video service rankings hold up, then All Access and Showtime OTT have a good shot at making the cut as...

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