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

Pause for Effect: Philo Bets on User-Initiated Ads as CTV’s Attention Antidote

Philo’s confidence in the format is also grounded in audience research. A study the company conducted with Parks Associates found that virtual MVPD subscribers skew more digitally savvy and are more r...

Parks: 51% of Consumers Prefer Video Subscription Package That Includes Live TV

More than 27% of U.S. internet households prefer a live-TV bundle combined with their favorite streaming on-demand services, while 24% prefer a skinny bundle combined with their favorite streaming...

Plume Names Rebecca Stone Chief Customer and Marketing Officer, Creating a Dedicated C-Suite Voice for Global ISP Customer Success

“Parks Associates research shows that gigabit speeds now surpass 25% penetration in the United States; competition is fierce for broadband providers,” said Elizabeth Parks, President and CMO, Park...

Research: AI redefining the smart speaker market

Parks Associates has unveiled new research from its Consumer Insights: Tech Ecosystem Dashboard and AI Experience Dashboard showing artificial intelligence (AI) is reshaping the smart speaker mark...

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