Average spending on streaming services in U.S. internet households dropped from $80 a month to $63 in the half-year to mid-August, research firm Parks Associates reports. “Consumers today are fatigued by the disjointed surplus of streaming options available,” comments Elizabeth Parks, President and CMO, Parks Associates.
“There is a divide in household sentiment towards the cost of streaming services,” she adds. “About an equal number of households agree as disagree that they are spending too much on streaming services. Those who agree they spend too much are likely to be entertainment enthusiasts who subscribe to and use more services. However, these households may look to cut back soon or embrace more services with advertisements as prices continue to climb higher.”
The company’s latest research has found that 46% of U.S. internet households have five or more streaming services. 71% of U.S. internet households use an SVOD service, 42% use an AVOD and/or FAST service, and 18% use a TVOD service.
