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21 August 2024
Subscription streaming VOD service usage is the norm in U.S. internet households. New data from Parks Associates shows that 71% of internet households use an SVOD service, 42% use an ad-supported VOD and/or free ad-supported streaming TV (FAST) service, and 18% use a transactional VOD service.
The Dallas-based research firm will host the “State of Streaming Services and the Future of Entertainment” virtual session on August 21 at 2 p.m. CST, featuring research data and insights from analyst Sarah Lee.
“Competition is fierce and the pressure is on to offer unique, immersive content and make it available on multiple platforms,” said Elizabeth Parks, president and CMO, in a statement. “Consumers today are tired of the disjointed glut of streaming options available. 46% of households now have five or more streaming services; average spending has dropped from $80 per month six months ago to $63 per month.”
“Household sentiment is divided on the cost of streaming services,” Parks added. “About an equal number of households agree that they spend too much on streaming services and others disagree. Those who agree that they spend too much are likely entertainment fans who subscribe to and use more services. However, these households may soon look to reduce their costs or use more services with ads as prices continue to rise.”
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