Providing Market Intelligence for 40 Years

In The News

Parks: Household Average SVOD Spending Drops from $90 to $64 Monthly

Parks Associates June 25 announced that new data found a 30% drop in spending for streaming SVOD services, with the average U.S. internet household spending about $63 per month on streaming video services, down from $90 in 2021.

“Consumers are spending less … many are using [lower-cost] ad-based streaming alternatives to save on costs,” analyst Sarah Lee said in a statement.

Parks said that in the first quarter, 20% of U.S. internet households paid for nine or more services, versus 29% in Q3 2023. The overall average number of streaming video service subscriptions per household has dropped below five, and 32% of households that canceled a service in the past 12 months cited a need to cut household expenses as the reason.

“All categories of household services face challenges, as consumers reevaluate their spending and subscriptions,” analyst Elizabeth Parks said in a statement. “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.”

From the article, "Parks: Household Average SVOD Spending Drops from $90 to $64 Monthly" by Erik Gruenwedel

Previously In The News

Humanizing Connected Home Experiences: Using Machine Learning and Voice Control

Comcast’s senior executive Sridhar Solur will provide the opening keynote: “Humanizing Connected Home Experiences: Using Machine Learning and Voice Control” at the 21st-annual CONNECTIONS™: The Premie...

MIPTV 2016: Playing The Digital Challenge

According to Parks Associates, OTT video usage in Western Europe is expanding, with 55% of UK broadband households and 51% in France watching TV programming and movies online, compared to 70% in the U...

Google's Nest Struggles Could Set Back The IoT Movement

The smart home devices sold by Google's home automation subsidiary, Nest, represent just a small fraction of the burgeoning Internet of Things (IoT) market. However, Nest has become one of the most re...

Hulu Valued At $5.8 Billion After Time Warner Investment

The new Hulu service is an attempt by its traditional entertainment company owners to secure their footing in television’s digital future, where streaming has become the norm and competition from deep...

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