Providing market intelligence for more than 35 years

Entertainment

Average spending on streaming services drops from $90 to $64 per month

This week, Parks Associates is attending StreamTV Show and presenting new research from its Video Service Dashboard, showing shifts in demand for streaming video services, including a significant drop in spending. The firm’s latest research reports a dramatic 30% drop in spending for streaming SVOD services, with the average US internet household spending about $63 per month on OTT SVOD services, down from $90 in 2021. 

In addition, households are now stacking fewer streaming services—in Q1 2024, 20% of US internet households report paying 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 cancelled a service in the past 12 months cite a need to cut household expenses as the reason.

All categories of household services face challenges, as consumers reevaluate their spending and subscriptions. 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.”

Elizabeth Parks shares more industry insight into current video services trends at the StreamTV Show from June 24-26 in Denver, CO. She moderated the panel, "Technology Leaders’ Roundtable: Addressing Platform Fragmentation and Video Workflows," 1:30-2:10 pm MT, on Tuesday, June 25. Featured speakers include:

  • Gordon Brooks, Executive Chairman and CEO, Zixi

  • Rob Collins, Executive Director of Software Development, Digital Platforms, Starz

  • Jeff DiTullio, CTO, AtmosphereTV

  • Vipul Patel, Vice President, Advanced Video Engineering, Charter

She is also participating on the session "Leaders’ Panel: CTV Ad Tech Maze: Navigating the Complexity of Today's Ecosystem" 1:40-2:20 pm MT, on Wednesday, June 26.  Featured speakers include:

  • Mike Brooks, Global Head of Business Development and Partnerships, LG Ad Solutions

  • Michael Fedyna, Director of Monetization and Client Services, DISH Media

  • Edmund Jules, Sr. Director - Ad Sales Partnerships, DIRECTV

  • Bill Murray, Senior Vice President, Programmatic Solutions, Warner Bros. Discovery

Elizabeth Parks is also a panelist on the session "Analysts Lightning Panel: Unveiling Trends, Behaviors, and Metrics in Streaming" at 3 pm PT on Wednesday, June 26.

Parks Associates extensively covers the video distributing market, including uptake and use of broadband, pay TV, and streaming services. The historical data set provides a unique view of the changes in the market. Research is delivered through various services including the Streaming Video Tracker, Consumer Insights Dashboards, Broadband Tracker, Quantified Consumer studies, Industry reports, and Consulting Services. For more information visit www.parksassociates.com

 

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