Providing market intelligence for more than 35 years

In The News

Hollywood Turns the Page on the Metaverse – and Disney Just Got the Memo | Analysis

All the while, consumer interest never matched the industry’s passion for the technology. The pandemic might have seemed like a prime opportunity to plug in and disconnect, since actual reality didn’t have a lot going for it. But after a jump in 2021, VR headset sales fell 2% last year to $1.1 billion, according to the NPD Group — a far cry from the near-$100 billion market once forecast. Only one in seven households even had a VR headset in 2022, according to Parks Associates. That limited reach means limited appeal for mass-market entertainment distributors.
Sheer lack of interest may be the biggest factor holding VR back. A Parks Associates survey found that among consumers who hadn’t tried VR, 47% said the reason they hadn’t bought VR equipment is that they saw no use for it. Among those who had tried it, 37% cited the same reason. Far fewer people cited cost, discomfort or a lack of content as a barrier, suggesting that the problem with virtual reality can’t be solved merely by improving the technology or throwing money at creatives to build more VR experiences.
From the article, "Hollywood Turns the Page on the Metaverse – and Disney Just Got the Memo," by Owen Thomas.

Previously In The News

6 Best Smart Thermostats in 2024

Smart thermostats are becoming more and more popular, with the share of Internet-connected U.S. households with a smart thermostat rising to 16% in 2022, a recent survey by market research firm Parks...

5G FWA success in USA yet to be seen in India

Additionally, 66% of FWA subscribers consider their pricing plan as fair – which is significantly higher than in the case of other types of fixed broadband technologies, according to a survey conducte...

Finance and phones – what can retail banking learn from the phone business?

KEY STAT: Net Promotor Score (NPS) increases in direct proportion to the number of subscriptions per user. High NPS means higher product satisfaction means greater service adoption. - Parks Associates...

Amazon, Best Buy, Google may soon sell home smart devices with ‘hacker-safe’ label

A 2023 study by research firm Parks Associates found that nearly 75% of U.S. households with internet service were concerned about the security of their personal data, while 54% reported experiencing...