42% of US internet households use an AVOD and/or FAST service

Parks Associates’ latest research shows that consumer habits continue to shift around video viewing – now 71% of US internet households use an SVOD service, 42% use an AVOD and/or FAST service, and 18% use a TVOD service. Today, the research firm is hosting the virtual session “State of Streaming Services and Future of Entertainment” at 2 pm CT, featuring research data and insights by Sarah Lee, Research Analyst with Parks Associates.

“Competition is fierce, and the pressure is on to offer unique, immersive content and to have that content available on multiple platforms,” said Elizabeth Parks, President and CMO, Parks Associates. “Consumers today are fatigued by the disjointed surplus of streaming options available. Now, 46% of households have five or more streaming services; average spending has dropped from $80 a month six months ago to $63 a month.”

“There is a divide in household sentiment towards the cost of streaming services,” Parks said. “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 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.”

Future of Video sponsors are Adeia, Bango, FPT Software, JW Player (JWP), and SymphonyAI Media. The seventh annual in-person conference will be held November 19-21 at the Marina del Rey Marriott, Marina del Rey, California, and addresses new strategies for streaming, internet, and mobile providers to deliver high-quality video services, and retain and attract new video subscribers.

Future of Video will also feature the virtual session “AVOD and New Revenue” on October 10. Parks Associates