Providing market intelligence for more than 35 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

Interoperability: A Big Word For a Simple Concept

It’s been bandied about for 30 years — just about as long as I’ve been in this industry — but it’s still a hot topic and I have yet to see a solid solution. Interoperability is a key issue that keeps...

Price hikes for cord-cutters. What gives?

Price increases come in bunches, said Brett Sappington, a pay TV expert who follows traditional and Internet providers for the research outfit Parks Associates. “The fact that they're all doing pri...

What dealers need to know to keep their customers cyber-secure.

Advising customers about options such as these could be an important task for security dealers, considering that a recent Parks Associate survey conducted for Qolsys found that 64 percent of professio...

Is it ‘Smart’ Home or ‘Connected’ Home?

According to the research firm Parks Associates, nearly 40 percent of security dealers that offer interactive services today report that half or more of their sales now include at least one smart home...