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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

Deeper Dive—Nothing’s dying in pay TV, it’s just getting segmented and iterated

In fact, I heard all of those questions posed—some of them multiple times—at our first annual Pay TV Show in Denver a few weeks back. The answers were always nuanced, often vaguely unsatisfying … and...

Integration: The smart home hub killer (Reality Check)

I am glad to report that the smart home market is in rude health. One recent research report from Parks Associates found that 17 percent of US broadband households own an Internet-connected entertainm...

DirecTV Now to hike prices as content fees rise across industry

Brett Sappington, director of research at Parks Associates, said price increases are a leading reason why viewers cancel subscriptions. “Customers don’t like surprises that hurt their pocketbook,”...

What Hulu needs to beat Netflix

Loyalty is the name of the game for places like Netflix and Hulu going forward, Callahan says. “It’s much easier to keep a customer than acquire a new one,” he explains. High turnover has been one...

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