Providing Market Intelligence for 40 Years

In The News

Parks: 89% of U.S. Households Have a Streaming Video Subscription

Parks Associates research sees an uptick of subscription streaming services among U.S. households, led by streaming video, retail memberships, and streaming audio, while 20% of households have a gaming subscription, outpacing gym memberships.

Citing data from a new consumer study of 8,000 U.S. internet households, Parks found that 89% of households have a streaming video service, and 32% subscribe to a streaming audio service. One in five internet households subscribe to a gaming service, while 16% have a gym membership.

“The evolution of hardware to a service model and demand to drive engagement and loyalty for brands through apps are driving the rise of subscription services,” Jennifer Kent, VP of research for Parks Associates, said in a statement.

Kent said that Spotify’s premium subscriber adoption is as high as that of Warner Bros. Discovery’s Discovery+ platform, which she said is the ninth-biggest video subscription service.

While many subscription services see adoption drop-offs after age 45, Kent believes that households can absorb the high prices for gaming and fitness services, appearing to prioritize convenience over the cost of streaming services.

Categories that provide entertainment (music, gaming) and convenience (child/baby, meal service) fare particularly well in terms of customer loyalty, according to Parks. The Dallas-based company believes that internet and traditional pay-TV providers, which traditionally have subpar consumer satisfaction scores, can benefit from partnering with — or bundling in — streaming services that garner higher customer satisfaction and loyalty.

“Competitive pressure will force market challengers to forge stronger ties, [such as] Walmart+ and Paramount+,” Kent said. “Subscription bundlers should seek offerings that span entertainment, productivity, and convenience.”

From the article, "Parks: 89% of U.S. Households Have a Streaming Video Subscription" by Jennifer Kent

Previously In The News

ATSC 3.0 Offers Way ‘To Pump New Life’ Into OTA TV, Says Parks Associates Analyst

One in five U.S. internet households owns a TV antenna, and 12% that don’t plan to buy one in the next six months, according to Park Associates’ new ”ATSC 3.0: Impact and Opportunity for Video Service...

Next-Generation Wi-Fi 7 Standard Expected To Be Finalized in Early 2024

“Wi-Fi 7 offers dramatically increased speeds over Wi-Fi 6 and 6E,” said Kristen Hanich, an analyst with Parks Associates, a market research and consulting company specializing in consumer technology...

The Sensible Dwelling Cybersecurity Tales That Mattered This Year

In keeping with analysis from Parks Associates, 54% of U.S. web households report experiencing an information privateness or safety challenge over the past 12 months, a rise of 50% since 2018. From...

How to protect your Cyber Monday packages from porch pirates this holiday season

Video doorbells are also a growing in popularity across the U.S. In the second quarter of 2023, 20% of U.S. households had a video doorbell, according to the Smart Home Consumer Insights Dashboard pro...

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
Store
View Your Cart
About Us
Overview Team Contact Us Privacy Policy

Follow:

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

Design & Developed By Agency Partner Interactive